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.
Treasury is now seeking views on the draft designation instrument. The designation instrument will turn on the ACCC’s CDR rule-making power for the energy sector. Submissions should be sent to firstname.lastname@example.org.
Consultation will close on 31 May 2020. The designation instrument will be finalised by 30 June 2020.