The Energy Security Board (ESB) has released a public consultation paper on a new data strategy for the national electricity market. This implements a Finkel Review recommendation, with the review recognising that a data strategy is a critical reform in rapidly changing market.
Ensuring that consumers continue to receive reliable, secure and affordable energy depends on data reform. Digitalisation and changes in the energy market are driving the need for more flexible and timely access to data; to optimise new technologies, provide more transparent and efficient markets, and manage robust consumer protections in a world of exponential data growth. Data also provides new opportunities for better consumer outcomes, through innovation in services and systems, efficiencies along the energy supply chain, and mobilising and valuing flexible demand.
Digitalisation and data reform are already an economy-wide phenomenon. The ESB’s proposes to overhaul the energy data regulatory framework in line with economy-wide data reforms, to support greater affordability, innovation and consumer protections. It has also developed a package of reforms to address data gaps, build energy sector analytical capability and ensure the energy sector is more flexible and adaptable to ongoing technology change.
ESB welcomes stakeholder input and engagement on proposed reforms. Consultation is open and submissions will be received until 27 November. The ESB will provide recommendations to Energy Ministers in early 2021.