The energy retailer’s move to build its own CDR solution is for complying with Australia’s Consumer Data Right (CDR) legislation, which was passed by the government in 2019
Microsoft said that Australian energy provider AGL Energy had engaged it for deploying a cloud-powered data platform that will enable the latter to offer its consumers consumer data right services.
AGL Energy’s move is to comply with Australia’s Consumer Data Right (CDR) legislation, which was passed by the government in 2019. The legislation gives more control to consumers over their data by letting them select who they want to share it with and how it has to be used.
As per the rules, consumer data can only be securely transferred between accredited industry providers and accredited third parties using an automated data technology system that is regulated strictly by the government.
Introduced to the banking sector in July 2020, the CDR legislation was extended to apply to the energy industry.
AGL Energy was mandated to have a compliant and operational CDR solution by 15 November 2022 so that it could facilitate requests from customers to share their data with third parties who are accredited.
After a marketplace research, the energy retailer is said to have decided to develop its own CDR solution with the help of Microsoft Cloud.
AGL Energy chief technology officer Hugh Fahy said: “As custodians of our customers’ personal information, it’s critical that we had a platform in place to facilitate a secure exchange of their data on the CDR marketplace.
“Our partnership with Microsoft, in collaboration with other external partners, and our team’s extensive experience using the Microsoft Cloud enabled AGL to build a flexible, cost-efficient and compliant CDR platform in just 12 months and within the regulatory timeframe.”
According to Microsoft, the solution’s design enables AGL Energy to scale to accommodate expected growth in the number of consumers who want to share their energy data and make comparisons of deals in the CDR ecosystem.
The tech major claimed that the solution could also allow the energy retailer in unlocking possible opportunities for growth if it chooses to become an accredited data recipient (ADR).
Microsoft Australia and New Zealand enterprise lead Jo Dooley said: “We’re proud to have supported AGL’s data transformation project with a secure, scalable and compliant solution in the cloud. Microsoft is committed to helping other organisations understand their CDR responsibilities and bring their own innovative solutions to life.”