How to apply the Consumer Data Right in the energy sector: ACCC

A discussion paper about how to best apply the Consumer Data Right in the energy sector has just been published by the ACCC.

The paper outlines three options for accessing consumer energy data, and information on principles the ACCC will take into account when considering which access model is most appropriate.

The Consumer Data Right is due to commence rolling out in banking from July 2019, and other industries including energy and telecommunications are expected to follow.

“We’re looking forward to progressing the next phase of the Consumer Data Right, as it has the potential to greatly assist consumers who we know struggle to find the best offers in the energy market,” ACCC Commissioner Sarah Court said.

“Improving access to their energy data will help consumers find cheaper services and will promote transparency and innovation.”

The energy consultation follows the publication of the Rules Outline in December, setting out the ACCC’s position on what should be included in initial rules that will apply to data access in the banking sector.

“Deciding on the appropriate data access model in energy is the first step in offering certainty to energy sector participants as they continue plan for the start of the CDR regime and develop new and innovative products that rely on reliable and secure sources of consumer data,” Court said.

In February 2019, the government introduced legislation paving the way for consumers to share their data through open banking. The intention is that consumers and small businesses have the choice to securely share data with trusted third parties.

Submissions are due by 5 pm AEDT on 22 March 2019.

Image credit: ©Nmedia/Dollar Photo Club

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