Building a Retail Energy Market fit for the future.

Building a Retail Energy Market fit for
the future.

Building a Retail Energy Market fit for
the future.

We’re a not-for-profit organisation that owns and manages the Retail Energy Code – the key rules for operating in the GB retail energy market.  Through the code, the services we manage and the programmes we run, we’re dedicated to building a more effective and efficient energy market for the future.

Our mission

We will facilitate the efficient and effective running of the retail energy market, including its systems and processes.  We’ll do this through promoting innovation, competition and delivering positive consumer outcomes.
We will facilitate the efficient and effective running of the retail energy market, including its systems and processes.  We’ll do this through promoting innovation, competition and delivering positive consumer outcomes.
We will facilitate the efficient and effective running of the retail energy market, including its systems and processes.  We’ll do this through promoting innovation, competition and delivering positive consumer outcomes.

Managing the code and so much more

Whilst managing the Retail Energy Code is our primary function, we also have the resources and expertise to make positive changes within the industry. By acting as an ‘intelligent client,’ we want to make efficiencies where they are needed, build independent industry knowledge, and share this with our stakeholders to improve performance and services.

Managing The Code and so much more

Whilst managing the Retail Energy Code is our primary function, we also have the resources and expertise to make positive changes within the industry. By acting as an ‘intelligent client,’ we want to make efficiencies where they are needed, build independent industry knowledge, and share this with our stakeholders to improve performance and services.

Our Values

Collaboration

We ensure that services are provided seamlessly and seek opportunities to add value through partnership with external organisations.

Customer Focus

Everything we do ultimately aims to benefit the consumer.

Efficiency

We ensure that Retail Energy Code services and wider arrangements are high-quality and offer value for money.

Innovation

We proactively make incremental and transformational innovations in the way we deliver services and REC requirements.

Accessibility

We want our services to be accessible – we are committed to making solutions digital wherever possible.

Sustainability

We’re a catalyst for changes to processes, services and culture that support a transition to decarbonised energy.

Finding solutions to the big issues

The retail market is facing unprecedented levels of uncertainty – making complying with regulations, staying profitable, and delivering a good customer experience even more challenging for energy suppliers. We work within our powers to make things easier and to facilitate the move to Net Zero. We engage with our stakeholders to understand what’s important. This means we problem-solve day-to-day practical challenges and, where possible, the big energy issues on everyone’s minds. Our direct and outsourced services are constantly being developed to support our stakeholders.

Who we are

We are the Retail Energy Code Company – an independent, not-for-profit organisation responsible for the Retail Energy Code (REC). We own, maintain, and develop the Code – a set of rules for operating in the retail energy sector. All licensed energy suppliers, gas transporters, electricity distribution network operators, metering operators and the Data Communication Company (DCC) must comply with the REC.

As part of managing the REC, we are responsible for delivering and improving vital services, from the Central Switching Service to the Energy Theft Tip Off Service. We also run programmes of work to improve these services and to drive positive change within the retail energy market. Overall, our aim is to make the retail energy market efficient, economical, and able to deliver positive consumer outcomes.

Our Journey

2019

We were formed by Ofgem to implement the new Retail Energy Code and set up services to meet code requirements.

2021

In 2021, the Code became fully operational, achieving Ofgem’s Retail Code Consolidation Programme. We also mobilised our first REC Service contracts, including the REC Code Manager service, which manages day-to-day interactions with the Code.

2022

We launched our first strategy and forward work plan. This set out our ambitious plans to make the retail energy market work better for consumers and suppliers.

What we manage

The Code Manager

Central Switching Service

Electricity Enquiry Service

Gas Enquiry Service

Energy Theft Tip-off Service

Green Deal Database

Initiatives

Our programmes of work are focussed on improving our services and driving positive change in the retail energy market. We want to make sure that the Retail Energy Code and its services evolve to support the changing market. Our programmes will evolve and change on a yearly basis. Below is what we’re currently working on. Click the links to learn more and get involved.

Reducing Energy Theft

We’re working with Crimestoppers to reduce the theft of gas and electricity. As well as costing consumers financially, energy theft causes serious, sometimes fatal injuries. Find out more about our Energy Theft Reduction Strategy.

Data and digitalisation

Our digitalisation and data strategy aims to improve our services in the short-term and enable secure and open data in the long-term. Open data will enable new products and services which will give all energy consumers and industry the ability to achieve affordability, security of supply and sustainability.

Moving to a smarter energy system

We’re supporting the reform of electricity settlement through our Market-wide Half-Hourly Settlement (MHHS) programme. Ofgem’s analysis predicts that MHHS will bring net benefits for consumers of between £1.6bn and £4.5bn between 2021-2045. Find out how we’re delivering MHHS requirements for the Retail Energy Code.

Prepayment Levelisation

We have been developing industry processes under the Retail Energy Code (REC) including designing, building, testing, and delivering a functional system to facilitate supplier payments to allow for non-volumetric levelisation.

Have your say

A thought-leader in the energy industry

We publish consultations and responses to third-party consultations. By publishing our consultations, we’re giving all stakeholders a chance to have their say in proposals relating to the Retail Energy Code (REC), REC services and our programmes. We also provide consultation responses to other organisations, such as industry regulators and government bodies, who are seeking feedback on proposals relevant to us.

Latest News

Scroll to Top