Project Steering Group confirms RECCo’s readiness for Market Stabilisation Charge go-live
The obligation for RECCo to operate Ofgem’s Market Stabilisation Charge (MSC) was implemented into the REC on 14 April 2022.
Since then activities have focused on developing the governance and business processes to support the administration of the MSC with a target operational date of 30th June 2022. Today, REC Change Proposal R0035 was implemented into the REC which sets out how the scheme will be operated. This follows RECCo’s Project Steering Group confirming readiness for operational go-live at a meeting yesterday.
This is a huge achievement for the team, delivering the project in a 4-month period and working closely with the REC Code Manager, REC Parties and Ofgem under extremely tight timeframes. RECCo, with the assistance of its service providers and the REC Code Manager, is responsible for collecting data, calculating and collecting the monies due, and making the payments.