Through participation in the Consumer Data Right regime, EnergyFlex empowers Australians to access personalised energy usage insights and education to help them reduce energy bills and carbon emissions and become Renewables Ready.
Adelaide, South Australia – 27 June 2024 – EnergyFlex, an Australian energy data and insights company, has become one of the first businesses of its kind to access Open Energy as a CDR Representative under the Federal Government-mandated Consumer Data Right (CDR) legislation. For Australians, this means access to transparent energy consumption insights, potential savings on their energy bills, and a clearer path towards sustainable energy usage.
This achievement was made possible through EnergyFlex’s partnership with data intermediary and fintech company, Adatree, whose portfolio includes CDR partnerships with 20 leading Australian banks and credit unions. The strategic collaboration grants EnergyFlex real-time access to Open Energy data that powers its flagship product, the EnergyFlex app.
The Consumer Data Right (CDR) gives consumers the right to securely share their energy data, through the Australian Energy Market Commission (AEMC), with other retailers and compliant service providers like EnergyFlex, in return for better products and services.
EnergyFlex uses an advanced, patent-pending algorithm to securely analyse CDR-protected smart meter data, offering users personalised insights into their electricity consumption. It also educates users on reducing their energy bills and carbon emissions and highlights the environmental and economic advantages of shifting usage towards renewable energy sources.
Bringing bank-level security to energy data
The process to get representative access to CDR data can take up to 12 months. EnergyFlex achieved this milestone in July 2023, six months after it started the process – – and four months ahead of the government’s deadline – and satisfactorily met Adatree’s strict compliance requirements around data access, governance, and security.
Only companies subject to the CDR, which is regulated by the Australian Competition and Consumer Commission (ACCC), can access CDR Data. Though not an energy retailer itself, EnergyFlex’s voluntary participation with CDR underscores its commitment to consumer empowerment and data security as an independent solutions provider.
Putting the power to save money and help the planet in Australians’ hands
“In an era of rising electricity prices, easy access to energy data is crucial. EnergyFlex eliminates the need for comparison sites, empowers consumers on their cost and carbon reduction journeys, and paves the way for tailored customer experiences.” says Garry Harding, CEO and co-founder of EnergyFlex.
Through EnergyFlex, users can monitor their household or business energy consumption, costs, and carbon emissions, and learn about simple actions they can take to align their usage with renewable energy, reduce their reliance on fossil fuels, find the best energy deal, and become ‘Renewables Ready’.
Jill Berry, CEO and Co-Founder of Adatree, comments on the evolving landscape: “The transition to renewables necessitates precise and dynamic datasets that only CDR can provide. With CDR, not only does Open Energy facilitate consumer-consented data sharing for energy-related applications, but it also ensures that consumers have a clear view and control over who can access their data and for what purposes. At Adatree, we’re thrilled be help organisations like EnergyFlex securely access consumer energy data to provide better solutions, education, and competitive offerings for all Australians.”
EnergyFlex’s proactive approach to CDR compliance reaffirms its dedication to both data security and consumer empowerment. As Australia moves towards a more sustainable energy future, companies like EnergyFlex lead the charge in getting everyone Renewables Ready.
About Adatree
Adatree is an award-winning Australian financial technology company at the forefront of Open Banking. Founded in 2019 Australia’s first CDR intermediary, it uses a sophisticated and secure proprietary platform to access business and consumer data from every available data source in all industries, including banking and energy. Its customers are a wide array of businesses, including banks, credit unions, accounting platforms, comparison websites, mortgage brokers and energy companies, to power diverse use cases and services through the CDR.
Adatree was cofounded by former Tyro Payments and Volt Bank employees, Jill Berry and Shane Doolan in 2019. It has won multiple technology and leadership awards, including Best Open Banking Provider and Excellence in Industry Collaborations & Partnerships at the Finnies and the Australian Fintech Awards, as well as being a national finalist in the Telstra Best of Business Awards 2022. Jill is also a member of the government’s Data Standards Advisory Committee to advise on CDR standards.
For more information, visit www.adatree.com.au.
