Siemens Smart Grid and Accenture have completed the formation of joint venture smart grid company Omnetric Group.

Omnetric will bring together Siemens’ smart grid products and solutions with Accenture’s capabilities in management and technology consulting, systems integration and managed services.

It will provide utilities with advanced smart grid solutions and services focused on data management and systems integration to improve energy efficiency, grid operations and reliability.

Omnetric is headquartered in Munich, Germany, and its chief executive Maikel van Verseveld, former managing director of Accenture Smart Grid Services in Europe, Africa and Latin America.

Martin Runge, who leads Siemens’ Smart Grid Centre of Competence for Central and Eastern Europe, has been appointed as chief operating officer.