MRP
03/07/2014 13:15
GENERAL
REL: 1315 HRS Mighty River Power Limited (NS)
GENERAL: MRP: Metrix partnership with Trustpower supports growth plans
Metrix has today confirmed that it has completed commercial negotiations with
Trustpower for a long-term service contract, including the deployment of
smart meters to Trustpower's 225,000 residential customers, starting during
2015.
Metrix Chief Executive, Matthew Olde, said the partnership with Trustpower
confirms Metrix as a leader in electricity metering services, an area
offering significant growth opportunities and providing innovative solutions
for both retailers and customers.
Mr Olde said the partnership with Trustpower reflects progress in Metrix's
growth plans in partnering with electricity retailers to provide them with
enhanced information solutions.
"Metrix is an established leader in this exciting space, where retailers are
increasingly seeking to provide greater visibility of their customers'
electricity use, and to offer services made possible with smart meters, such
as online electricity monitoring tools.
"More than 50% of New Zealand's homes and businesses now have smart meters,
and Metrix's partnership with Trustpower and other retailers means an
additional 13% of the market will receive smart meters provided by Metrix."
The partnership will involve capital expenditure of $100 million from Mighty
River Power over a three year period, with $20- $25 million in FY15, ramping
up to $40 million in FY16, with revenues growing progressively through the
deployment. This level of investment in the growth of Metrix is more than
double the previous annual rate, Mr Olde said.
Over the past five years Metrix has built its AMI smart metering business to
more than 340,000 installations through capital investment of more than $100
million, making it New Zealand's second-largest provider of electricity
metering services, providing services to 14 different companies. The
partnership with Trustpower, and other committed AMI deployment contracts,
will increase Metrix's installations to almost 600,000 nationally by the end
of 2017.
Mr Olde said Metrix is looking forward to building a long-term relationship
with Trustpower, and the first step as part of that is to work closely with
Trustpower to establish robust end-to-end processes, systems and integration
to support Metrix's service offering and Trustpower's customer offering.
End CA:00252400 For:MRP Type:GENERAL Time:2014-07-03 13:15:06
