Who we are
Who we are
About RECCo
We own, maintain, and develop the Retail Energy Code (REC) – 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 Communications Company (DCC) must comply with the REC.
As part of managing the REC, we’re responsible for delivering and improving vital services, from the Central Switching Service to the Energy Theft Tip-Off Service. We also run work programmes to improve these services and drive positive change within the market. Overall, our aim is to make the retail energy market efficient, economical, and able to deliver positive consumer outcomes.
Our mission
We will facilitate the efficient and effective running of the retail energy market, including its systems and processes. We will do this through promoting innovation, competition, and delivering positive consumer outcomes.
Our journey
RECCo is appointed by Ofgem to deliver the Consumer Consent Solution, and takes on the Tariff Interoperability Standard under DESNZ’s Smart Secure Electricity System Programme.
RECCo closes the Market Stabilisation Charge, delivers more than £80 million, and launches Prepayment Meter Levelisation to support vulnerable consumers and tackle fuel poverty.
RECCo consolidates the Metering Codes of Practice, delivers processes for Prepayment Meter Levelisation, and launches its Data & Digitalisation strategy to unlock Retail Energy Code data with consent.
RECCo delivers new switching arrangements and Central Switching Service governance under the Retail Energy Code, administers the Market Stabilisation Charge scheme, and publishes its Theft Estimation Methodology report.
Ofgem forms RECCo in 2019 to implement the Retail Energy Code and stand up required services. RECCo makes the Code fully operational in 2021 with the REC Code Manager launch.
REC Charging Statement
Our values
Behaviours
- We are expert in what we do
- We engage and collaborate
- We listen to understand
- We build trust
Behaviours
- We do the best job we can
- We are responsible for our own actions
- We embrace learning & development
- We are one team
Behaviours
- We are comfortable making decisions
- We are adaptable to change
- We challenge assumptions
- We challenge respectfully
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
