Energy

ACCC makes Accredited Intermediary Rules

The ACCC has made amendments to the Consumer Data Right Rules. These amendments permit the use of accredited intermediaries to collect data, through an expansion of the rules relating to outsourced service providers. The amendments expand the Consumer Data Right system by allowing for accredited businesses to rely on other accredited businesses to collect Consumer Data Right data on their behalf, so they can provide goods and services to consumers.

Energy industry cooperation authorised with strict conditions

The Australian Energy Market Operator (AEMO) and participants in gas and electricity markets have been authorised to cooperate on measures to secure Australia’s energy supplies during the COVID-19 pandemic.

The authorisation granted by the ACCC today allows AEMO and energy industry participants to share essential personnel, essential inputs such as parts and equipment, and information about the operation of their facilities. They will also be permitted to co-ordinate repairs and maintenance.

Memorandum of Understanding with the Office of the Australian Information Commissioner

On 30 July 2020 the Australian Competition and Consumer Commission (ACCC) entered into a Memorandum of Understanding (MoU) with the Office of the Australian Information Commissioner (OAIC) relating to the performance of their respective roles in regulating the Consumer Data Right system. The purpose of the MoU is to:

CDR Phase 2 test strategy November 2020

The ACCC has released an updated version the Consumer Data Right Phase 2 test strategy for November 2020 to address updates to the Consumer Data Standards and Register Design and incorporate consultation feedback from Participants. This strategy, which is designed for the banking sector, provides an overview of the ACCC’s testing approach to help existing accredited data recipients and data holders prepare for the November 2020 phase release. This includes the test stages, test scenarios and timing of industry testing.

Tipping point for affordability in energy markets

Australia has a unique opportunity to restore energy affordability, according to ACCC Chair Rod Sims.

Mr Sims was speaking via video about the opportunities in the gas and electricity markets at the 2020 National Conference of the Energy Users Association of Australia.

“This dreadful pandemic has caused significant personal hardship and economic disruption for businesses but also provided an opportunity to reset affordability and competition in energy markets,” Mr Sims said.

A tipping point for energy affordability

Australia has a unique opportunity to restore energy affordability, according to ACCC Chair Rod Sims. He was speaking about the opportunities in the gas and electricity markets at the 2020 National Conference of the Energy Users Association of Australia. This dreadful pandemic has caused significant personal hardship and economic disruption for businesses but also provided an opportunity to reset affordability and competition in energy markets.

Domestic gas users paying too much

Australia’s east coast gas users are paying prices significantly above export parity prices, the ACCC’s latest gas report reveals.

The ACCC’s Gas Inquiry 2017-2025 Interim Report, released today, shows that prices offered to domestic gas users in late 2019 and early 2020 ranged from $8 to $11/GJ.

While this was down slightly from the $9 to $12/GJ range observed earlier in 2019, this price decline was not in line with the significant and sustained drop in LNG netback prices, which were for 2021 delivery below $6/GJ by early 2020 and have been below $5.50 since May.