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Australia: Treasury releases statement on CDR regime in energy sector

The Treasurer of the Commonwealth of Australia, Honourable Josh Frydenberg MP, released, on 29 June 2020, a joint statement with the Minister for Energy and Emissions, Honourable Angus Taylor MP, announcing proposed rules ('the Proposed Rules') that will bring the energy sector in line with the Consumer Data Right ('CDR') regime, and will make the CDR regime formally apply to the energy sector. In particular, Frydenberg and Taylor highlighted that applying the CDR to the energy sector will allow consumers and businesses to compare and switch between electricity plans and providers, encouraging more competition, lower prices, as well as more innovative products and services. In addition, Frydenberg and Taylor noted that the Australian Competition and Consumer Commission will be commencing consultations on the Proposed Rules for the sector.

You can read the statement here and the Proposed Rules here.