Energy Minister Simon Watts and Commerce and Consumer Affairs Minister Scott Simpson said the initiative, known as Open Electricity, follows the rollout of ‘Open Banking’, with regulations for that system having come into force in December last year.
Watts said consumers currently face an overwhelming choice, with more than 15,000 residential electricity plans on the market, making it difficult to identify the most suitable option. He said Open Electricity would allow people to securely access and share their own electricity usage data, enabling faster and more accurate comparisons across all available plans.
Recent energy-saving campaigns have shown customers who switched plans saved an average of $358 a year, Watts said, adding that the reforms could also reduce costs through more efficient electricity use and lower demand during peak periods. He said better access to consumption data would also help households make informed decisions about investments such as solar panels or electric vehicles.
The changes are expected to benefit around two million households and approximately 165,000 small businesses. Consumers are expected to begin seeing changes from September this year, with the full rollout scheduled to be completed by mid-2027.
Simpson said the current system for accessing electricity usage data was slow, inconsistent, and limited consumers’ ability to shop around. He said existing comparison tools often rely on average usage figures, which do not accurately reflect individual consumption patterns.
By allowing secure access to personalised data, Mr Simpson said Open Electricity would support stronger competition in the market and encourage the development of new and more innovative electricity products, ultimately helping customers get better value for money.
Daily Telegraph New Zealand (DTNZ) is an independent news website, first published in October 2021. - where this article was sourced.
Recent energy-saving campaigns have shown customers who switched plans saved an average of $358 a year, Watts said, adding that the reforms could also reduce costs through more efficient electricity use and lower demand during peak periods. He said better access to consumption data would also help households make informed decisions about investments such as solar panels or electric vehicles.
The changes are expected to benefit around two million households and approximately 165,000 small businesses. Consumers are expected to begin seeing changes from September this year, with the full rollout scheduled to be completed by mid-2027.
Simpson said the current system for accessing electricity usage data was slow, inconsistent, and limited consumers’ ability to shop around. He said existing comparison tools often rely on average usage figures, which do not accurately reflect individual consumption patterns.
By allowing secure access to personalised data, Mr Simpson said Open Electricity would support stronger competition in the market and encourage the development of new and more innovative electricity products, ultimately helping customers get better value for money.
Daily Telegraph New Zealand (DTNZ) is an independent news website, first published in October 2021. - where this article was sourced.
2 comments:
What a great idea, we get to chose between really expensive electricity and other really expensive electricity.
How about the generators don't get to charge scam the system and bend us over.
What a joke the market is broken and the NACTFML government doesn’t care about everyday kiwis.
Post a Comment
Thank you for joining the discussion. Breaking Views welcomes respectful contributions that enrich the debate. Please ensure your comments are not defamatory, derogatory or disruptive. We appreciate your cooperation.