Fiskil takes lead on CDR with first to access Open Energy

Fiskil takes lead on CDR with first to access Open Energy

Accredited Data Recipient to launch one of the first value propositions for Open Energy.

Fiskil, has today announced the world’s first transfer of open energy data via the Consumer Data Right. The milestone transfer was made between Origin Energy utilising’s compliance software.

Fiskil’s soon-to-be-launched platform will allow users to securely link their energy accounts and data to service providers and comparison sites in order to verify identity and account information, validate real-time account balances, access usage data and access detailed billing data.

Amid rising energy prices, new mandates from the ACCC that require all major energy retailers to share their data with accredited service providers, including comparison sites, will be enforced from November 15th. Similar to how the banking and financial services industry has introduced Open Banking in recent years, these new regulations, also referred to as Open Energy, will allow consumers to get more tailored, competitive services. It will also open up new opportunities for the financial services sector to leverage energy data sets. Solar financing is an area where now with real-time insight of the payback period can be achieved with a higher level of confidence.

Jacob Parker, CEO and Founder of Fiskil said, “The current cost of living crisis has had an impact on almost every Australian’s hip pocket, and there is perhaps no part of the monthly budget that’s gone up as much as our energy bills. The CDR helps Australian consumers easily compare and switch between different products and services, lowering prices, encouraging competition, and promoting innovation. This is where Fiskil comes in.”

“To be the world’s first recipient of Open Energy data is an incredible milestone for the Fiskil team as we work towards the official launch of our real-time Energy APIs on November 15th. We are excited to work with businesses and entrepreneurs to power new innovations within the energy sector.”

Stuart Low, Founder and CEO of commented, “The launch of Open Energy has been a long road and I’m incredibly proud of the work our team has delivered to achieve such a significant world-first. To know that we’re on the brink of seeing the first value propositions come to market is incredibly exciting for us, and we’re thrilled to have worked with Fiskil to make the first data transfer a success.

The announcement comes as the CDR continues to expand its remit, with the Treasury recently completing its consultation period on a draft bill to enable Action Initiation, a new capability that will allow consumers to use the CDR to ask businesses to initiate actions on their behalf, including payments, switching, or updating details across providers.