AGL Energy has teamed with Microsoft to deliver an innovative, cloud-powered data platform that will enable AGL to provide Consumer Data Right services to consumers in accordance with the Consumer Data Right (CDR) legislation.
In a statement, AGL said the move would empower customers while also opening up intriguing new opportunities for AGL to provide personalised customer experiences.
The Australian Government passed the CDR in August 2019 to give customers more control over their data by letting them decide who to share it with and how it should be used. According to the regulations, only accredited industry providers (such as energy suppliers), accredited third parties (such as comparison websites), and automated data technology systems that the Australian Government carefully regulates may securely transfer customer data.
Following its introduction to the banking business in July 2020, the CDR was expanded to include the energy sector. AGL was one of the first three energy retailers to be obliged to have a compliant and functioning CDR solution in place by 15 November 2022, to accommodate consumer requests to share their data with certified third parties.
AGL chose to construct its own CDR solution on the Microsoft Cloud after conducting a significant market analysis. AGL also worked with a number of Microsoft partners, government organisations, and third-party software-as-a-service providers.
AGL Chief Technology Officer Hugh Fahy said As stewards of its customers’ personal information, AGL needed a platform to support the 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,” Fahy stated.
According to AGL, its technology is designed to be scalable to support expected growth in the amount of customers seeking to share their energy data and compare deals in the CDR ecosystem.
If AGL agrees to become an authorised data recipient, the solution may also help it to uncover significant growth opportunities (ADR). These opportunities include recruiting additional customers to join AGL’s Virtual Power Plant program and providing personalised and innovative services to clients such as:
- Bill forecasting, management, and smoothing using machine learning and artificial intelligence;
- data integrations with open banking, which is how the CDR is applied in the financial sector; and
- recommendations on more efficient energy consumption.
Jo Dooley, Enterprise Lead at Microsoft Australia and New Zealand, 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.”