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
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.
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 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 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.
Our values
Collaboration
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
Sustainability
