The Government has confirmed that the retail electricity sector will be designated as the next sector in scope of the consumer data right ("CDR") regime under the Customer and Product Data Act 2025. Additionally, MBIE has approved the first group of accredited requestors for open banking.
Both developments are major milestones in New Zealand’s phased rollout of the CDR across key retail sectors.
You can find our video series with more information on the CDR framework here.
Designation of Electricity Sector
It has now been confirmed that the retail electricity sector will be the second designated sector under the CDR. Electricity sector designation follows on from the banking sector designation and implementation of open banking regulations in December 2025.
Minister Watts and Minister Simpson have stated that the electricity sector designation will "help New Zealand homes and businesses plug in to the best power plan for their needs" and "drive better competition in our electricity market".
MBIE will continue to work with industry and the Electricity Authority as it develops regulations and standards for the new designation. It is expected that the regulations and standards for the electricity sector will be in full effect by mid-2027.
You can read more about the submission process on the designation of the electricity sector here.
Open Banking Accredited Requestors
MBIE has now also confirmed the first group of accredited requestors in the banking sector. Under the CDR, accredited requestors can receive consumer data and, where enabled, initiate actions such as payments. Accredited requestors must meet the CDR’s accreditation requirements including security requirements, liability cover, and a clear complaints process.
The first group of accredited requestors are:
- Akahu Technologies Limited;
- Blink Pay NZ Limited;
- Merco Limited (POLi); and
- Volley Payments Limited.
Each has registered as an intermediary for payments and customer data, enabling them to request data and instruct payments for their clients' downstream customers. In addition, Volley has registered as a non-intermediary for customer data, enabling them to request data for their own customers also.
Accredited requestors are listed on the Register of Participants and can be recognised by MBIE’s new accreditation trust mark. It is expected that further accredited requestors will be announced in the coming weeks.
Russell McVeagh will continue to monitor for developments and provide further updates in the CDR space. You can join our mailing list to receive updates as they are released.
If you would like to know about the accreditation process or how the new electricity sector designation might affect your organisation, please do not hesitate to contact us.