DTNZ: ‘Open Electricity reforms’ aim to cut power costs for consumers

The Government has confirmed the retail electricity sector will be brought under the Customer and Product Data Act, a move it says will make it easier for households and small businesses to compare power plans and reduce electricity costs.

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.