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Our Company

Who we are

The Retail Energy Code Company (RECCo) is an independent, proactive, and forward-looking non-profit company. We are the owner of one of the key governance and market operation arrangements (the Retail Energy Code ‘REC’) which enables the operation of a competitive energy retail market in Great Britain. We are responsible for maintaining and continually developing those arrangements to enable a more efficient market which makes it faster and more reliable for customers to switch their energy suppliers.

The REC is continually evolving and is set to include new switching arrangements in the summer of 2022, following the implementation of the Central Switching Service (CSS). All licensed energy suppliers, gas transporters, electricity distribution network operators, metering operators and the Data Communication Company (DCC) are required to accede to the REC.

We’re part-way through a multi-year transformation to become a truly progressive, purpose-led operational business. This involves procuring and managing a number of REC Services, including the REC Code Management services which deliver the day-to-day operational elements of the REC. In addition, we develop and implement strategies that deliver benefits to Parties, consumers and other stakeholders.

Our Purpose

RECCo aims to facilitate efficiency, better service and innovation in the retail energy market to drive positive consumer outcomes and make the market work more effectively. We do this by bringing together, digitalising and simplifying retail market arrangements whilst ensuring that positive consumer outcomes are at the centre REC arrangements and decision making.

Our Journey

Since 2019, RECCo had been on a transformation to become a truly progressive, purpose-led operational business. We have already made significant progress and have continued to work hard to deliver on the commitments of our strategy which we publish on an annual basis alongside our budget.

In 2022/23 RECCo intends to remain focused on achieving the mission and strategic aims of:

  • Consolidate, simplify and maintain retail governance arrangements;
  • Develop and/or maintain effective, innovative and positive consumer-facing solutions;
  • Ensure that all the services provided and/or funded by RECCo are cost-efficient and effective;
  • Support the transition to a decarbonised energy industry;
  • Be independent thought leaders on retail energy issues.

Throughout 2022/23 and beyond, we intend to ensure that we are suitably resourced and have the right skill set needed to meet our future deliverables. This is vital to achieve our core service and ultimately our mission.

Our Mission

Our objective is to oversee the development of the REC, enabling it to achieve its 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 customer outcomes”.

Strategic Aims

  • Consolidate, simplify and maintain retail governance arrangements;
  • Develop and/or maintain effective, innovative and positive consumer-facing solutions;
  • Ensure that all the services provided and/or funded by RECCo are cost-efficient and effective;
  • Support the transition to a decarbonised energy industry;
  • Be independent thought leaders on retail energy issues.

Values

We aim to build effective and collaborative relationships with all stakeholders, including REC Parties, Service Providers, code bodies and, policy makers and we will strive to take a ‘digital-first’ approach in all that we do.

These ways of working form our six core values:

Contact us

If you would like to hear more about RECCo and its role within the retail market, please contact info@retailenergycode.co.uk.

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