What is What is Open Energy in the UK?
What is Open Energy and how it can improve the UK energy sector.
13:03 08 October 2018
An independent consultancy firm that offers strategic advice on competition and regulatory has called for the opening up of data in the UK energy sector. The Federation of Small Businesses (FSB) by the Fingleton Associates, which co-produced the 2014 report that led to open banking, looks into the possibility of bringing Open Energy to the United Kingdom.
Andy Poole, deputy head of policy at the FSB, said: "The journey with Open Energy dates back two years from a report called The Price of Power. How we generate and use energy is transforming drastically to more distributed and carbon neutral systems, which requires a lot of investment, which comes down to bill or tax payers. So where in the past we speak about unfairness in the existing market, especially for businesses, we look forward to a future smart market."
"Open Energy is the name we give to the reforms that can solve many of the energy market's problems – by making it more like a normal market, not by adding even more regulation to the mix," the report outlines.
"It is a set of policy reforms designed to change the terms of the energy market in favour of customers and innovators, primarily by making market information available through machine-readable open APIs and giving energy customers power over their meter and contract data."
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