‘Open electricity’ on the way, says minister

New legislation paves the way for greater competition in sectors such as electricity.

So says Commerce and Consumer Affairs Minister Andrew Bayly.

“Competitive markets boost productivity, create employment opportunities and lift living standards,” he says.

“Open electricity has the potential to enable considerable customer savings by making it easier for households to measure their power use, compare pricing and swap providers.

“New Zealand currently has no mandatory data standards. The Bill improves data privacy standards and is supported by the Privacy Commissioner. It is entirely opt-in, meaning customers will have to give their explicit consent for their data to be shared,” says Bayly.

“Australia, the UK, and the EU all have, or will soon have, a consumer data regime like what is proposed by this Bill.

“It is time we caught up with the rest of the world and harnessed the benefits of the modern, digital economy.”