The Government is committed to extending the Consumer Data Right (CDR) to the energy sector alongside the implementation of Open Banking. In doing so, the Government aims to establish a framework that helps consumers to find and switch to the best energy deals. Over time, this will encourage greater competition between energy retailers and deliver innovative retail products that help consumers better manage their energy use, find better products and make informed decisions about personal energy investments.
On 9 January 2020, the Treasurer the Hon Josh Frydenberg MP, agreed in-principle to the coverage of data sets and data holders for energy.
On 26 June 2020, the Designation Instrument for the energy sector was signed. The designation instrument turns on the Consumer Data Right in relation to National Electricity Market datasets. The regime will commence in the energy sector following development of ACCC made rules and Data Standards Body made technical standards – which will ensure the safe, convenient and efficient operation of the regime.
Treasury released the draft Designation Instrument for consultation on 6 May 2020. The consultation period closed on 31 May 2020.
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