In the future, insights gleaned from the NEP will enable the energy market to respond to higher consumer expectations for lower prices and sustainable energy sources, especially as renewable energy sources and the uptake of EVs continue to grow. For example, more accurate and dynamic pricing models could be developed by energy and utility companies that will incentivise the use of energy that is produced locally (e.g. solar panels or microgrids) or stored in batteries by customers.
Through the strategic alliance, Vector and AWS plan to hire more than 30 employees in highly skilled technology and engineering roles in New Zealand to help develop the NEP and associated applications.
This is an important step for Vector towards our vision of creating a new energy future, and this strategic alliance with AWS is critical.
To read the press release about this strategic alliance, please click here.
Frequently Asked Questions
Vector owns and operates a distribution network in Auckland, aren’t you veering away from your core business?
Vector is the largest energy distributor in New Zealand. We also have an expanding advanced metering business across New Zealand and Australia, as well as advanced battery technology and a distributed renewable energy management business, a fibre communications business and gas trading business.
Our vision is to lead the transformation of the energy sector by identifying and developing options that will provide value, choice and service for customers throughout New Zealand and Australia and deliver sustainable shareholder returns.
Developing the New Energy Platform is only one way in which we are achieving this vision.
Why is Vector entering into a strategic alliance with AWS?
Vector and AWS have a shared ambition to help solve the global challenges facing the energy market with a focus on the customer.
This strategic alliance will see us combine our expertise to create a cloud platform that accelerates the transition to a new energy future – where energy is cleaner, more affordable, and reliable.
I’ve heard of Amazon but who is AWS?
Amazon Web Services (AWS) is the world’s most comprehensive and broadly adopted cloud platform.
AWS offers over 175 fully featured services for compute, storage, databases, networking, analytics, robotics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management.
Millions of customers including the fastest-growing start-ups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs.
How will you protect my data privacy?
Vector Metering already manages data on behalf of our energy retailer customers and the NEP will modernise how this is done. As custodians of the data, we take this role extremely seriously.
AWS is a recognised world leader in secure data management and is committed to providing customers with the most extensive set of security services and features to help ensure complete control of their data.
When will I see the benefits of the NEP as a customer?
With our announcement in July, we have started working with AWS and have an ambitious roadmap for the alliance. We are hoping to have our initial product in the first half of 2021.