Developing a product or service using electricity data
More electricity data is now available than ever before. This means there is more opportunity for new, innovative products or services to be developed. If you are considering developing a new business in this area, this information can help you get started.
What are the requirements to develop a product or service using electricity data?
- There are no specific requirements or accreditation scheme for those who want to provide energy related services.
- In providing energy services you need to comply with existing generic consumer protection legislation and any relevant standards and codes of practice under other legislation.
What is the process to develop a product or service using electricity data?
As there are no specific requirements there is no set process. We expect you could develop a variety of service offerings. Some of the factors to consider are :
- To provide a service you will need to obtain consumers’ consent to act on their behalf. This will allow you to access the consumers’ consumption data.
- Being a consumer’s authorised agent will involve handling their information and you will need to take appropriate consideration of the Privacy Act 1993 requirements.
- You will need to establish your own systems, calculators and tools to compare energy plans.
- Any financial arrangements such as commissions to be paid for services provided are subject to agreement between you and retailers and/or your customers.
- We recommend you clearly state what retail offers are included and excluded from your analysis, and what your commission arrangements are with retailers (if any).