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Verizon and eMeter announced on last Tuesday to co-develop and deliver a cloud-based meter data management offering for the utility industry (electric, gas and water utilities) to meet their needs for advanced smart grid solutions.

Expected to be available in spring, the new service will deliver eMeter's meter data management software to utilities as a managed service in a cloud-based environment via Verizon's IP network that connects 200 plus data centers worldwide.

eMeter specializes in the development of smart grid software for the electric, gas and water utility industries for lower operational costs, improved customer service, and better energy efficiency.

This collaboration is expected to address the potential for new business applications, enhance billing capabilities and enable faster customer response. Being a cloud-based service, utilities will be able to pay for it on a per-user basis, without the need for large capital investment.

Gary Bloom, CEO and president of eMeter, said, "This cloud-based meter data management solution will help utilities meet the next generation of energy management needs for both businesses and consumers."

"Advancing industry-specific solutions is a key component of Verizon's 'Everything-as-a-Service' strategy," said Rilck Noel, managing director for Verizon's global energy & utilities practice. "Our work with eMeter is the latest example of how we are innovating to deliver new smart grid opportunities for utilities -- helping them, and ultimately consumers, gain better command and control of energy resources."