Energy Data

Basiq's Approach to Energy Sector Data Integration via CDR

Basiq is committed to staying at the forefront of financial data services and recognises the potential of CDR across various sectors, including energy. Although we currently do not provide the energy data within our APIs, our infrastructure and strategy are poised to adapt swiftly to changing market demands. By maintaining flexibility in our strategic approach and continuing to assess customer and market needs, Basiq will ensure alignment with the most impactful opportunities within the CDR landscape.

Overview of Energy Sector Data in CDR

The energy sector within the CDR framework encompasses a variety of data points that can be highly beneficial for both consumers and service providers. Key data elements include:

  • Customer Information: This includes basic personal details, contact information, and identification data.
  • Account Data: Details about the consumer's energy account, such as account numbers, service addresses, and plan details.
  • Billing and Usage Data: Historical and current billing information, payment history, and detailed energy usage patterns.

Access to this data allows consumers to manage their energy consumption more effectively, compare plans, and switch providers easily, promoting greater competition and innovation in the sector.

Current Status at Basiq

Currently, Basiq does not actively integrate or make calls to energy-related endpoints within the CDR framework. This decision is based on several strategic considerations:

  • Customer Demand: We actively monitor the demand for energy data integration from our customers. To date, the interest has not been sufficient to prioritise these developments over other high-impact features within our roadmap.
  • Market Readiness: The energy sector's CDR implementation is still evolving. Our strategic focus has been directed towards more mature sectors where customer benefits and demand are clearer and more immediate.

Basiq's Strategy for Energy Data

While we are not currently offering the energy data, this is not indicative of a permanent stance. Our approach is flexible and responsive to market needs:

  • Regular Assessment: We continuously assess market demand in collaboration with our sales and marketing teams. This involves direct feedback from existing and prospective customers as well as monitoring broader market trends.
  • Infrastructure Readiness: Basiq has developed a robust infrastructure capable of integrating with CDR APIs across sectors. This readiness ensures that if customer demand shifts, we can quickly and efficiently integrate energy data endpoints into our service offerings.
  • Strategic Fit: Any decision to integrate energy sector data will depend on its alignment with Basiq’s overall strategic goals and the value it adds to our customer offerings. This includes evaluating the potential for new product features and enhancements that leverage energy data.
  • Partner Collaboration: We are open to collaborating with energy providers and other stakeholders within the ecosystem to explore innovative uses of CDR data, which could accelerate our entry into this segment.