Who we are
About RECCo
We own, maintain, and develop the Retail Energy 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 mission
Our Journey
Ofgem confirmed RECCo as the Delivery Body for the Consumer Consent Solution. The REC will also take on the new Tariff Interoperability Standard under DESNZ’s Smart Secure Electricity System Programme
The Market Stabilisation Charge (MSC) ended in March 2024. We collected and disbursed over £80 million during the scheme and successfully launched the Pre-payment Meter Levelisation scheme in April 2024. This service will have a significant positive impact on vulnerable consumers in our society by helping to combat fuel poverty.
We consolidated the Metering Codes of Practice and took responsibility for developing industry processes that will enable Prepayment Meter Levelisation. We also launched our Data and Digitalisation strategy, which focuses on accessing REC-controlled data and obtaining consumer consent.
The new switching arrangements and the governance of the Central Switching Service were implemented under the Retail Energy Code. We also became responsible for administering the Market Stabilisation Charge Scheme and published our Theft Estimation Methodology report, a key document in the fight against energy theft.
We were formed by Ofgem in 2019 to implement the new Retail Energy Code (REC) and set up services to meet code requirements. The Code became fully operational in 2021 with the launch of the REC Code Manager.
Values
Behaviours
Transparency
- We are expert in what we do
- We engage and collaborate
- We listen to understand
- We build trust
Impact
- We do the best job we can
- We are responsible for our own actions
- We embrace learning & development
- We are one team
Courage
- We are comfortable making decisions
- We are adaptable to change
- We challenge assumptions
- We challenge respectfully
