We welcome the opportunity to respond to this call for input ahead of anticipated further consultation on energy code reform. Our non-confidential response appended below, represents the views of the Retail Energy Code Company Ltd (RECCo), and is based on our role as operator of the Retail Energy Code (REC).
RECCo is a not-for-profit, corporate vehicle ensuring the proper, effective, and efficient implementation and ongoing management of the REC arrangements. We seek to promote trust, innovation, and competition, whilst keeping positive consumer outcomes at its heart. We are committed to ensuring that RECCo is an “intelligent customer”, ensuring efficacy and value-for-money of the services we procure and manage on behalf of REC Parties, include those which constitute the REC Code Manager.
As a newly formed industry code, merging its predecessor electricity and gas codes, we have had early opportunity to deliver streamlined operational and governance arrangements for the REC, and continue the work to consolidate arrangements where helpful and appropriate. We consider that all code bodies should be expected to pursue such continual improvement to further facilitate their own objectives and deliver wider benefit to the industry, and ultimately to consumers.
Therefore, whilst we agree that energy governance landscape must as whole become more effective to meet the challenge of decarbonising the industry, it will be important to ensure that the proposed reforms do not inadvertently stymie any beneficial change in the shorter term.
Read our response in full here.