Our recent webinar on 7th November, led by Jon Dixon, Director of Development & Strategy and Suchitra Hammond, Senior Strategy Manager, provided a first look at RECCo’s proposed Strategy for 2025-2030 and RECCo’s supporting Forward Work Plan for 2025-28.
In case you missed it, here’s a recap of the key insights shared during the session.
Webinar summary
Our strategy development process
In the webinar, we discussed the development process behind our strategy, including how we’ve shaped our approach through market analysis and stakeholder consultation. Our goal is to ensure that our strategy aligns with the changing landscape of the retail energy market and meets the evolving needs of consumers, energy providers, and other stakeholders.
Strategy vs Forward Work Plan: Key updates for 2025-2028
This year marks an important change in how we present our vision. For the first time, we’re publishing our Strategy and Forward Work Plan as separate documents, each with its distinct focus:
- The Strategy: This document provides a medium-term roadmap for RECCo, outlining our strategic aims to keep us ahead of the curve as the retail energy sector evolves. It’s a forward-looking vision that guides our initiatives and priorities for the next 5 years.
- The Forward Work Plan: This plan is a living document that will be updated annually. It will include detailed financial projections and offer the flexibility to adapt to the energy market’s ever-changing landscape. It ensures that we remain responsive to emerging trends and new challenges as they arise.
Summary of our strategic aims and workstreams
We introduced our proposed strategic aims and supported key workstreams, covering short-, medium-, and long-term objectives. Our strategic aims are:
- Perform: Establish RECCo as a trusted, expert provider and enabler of code management and services.
- Protect: Safeguard consumers’ interests and data by delivering secure, retail-focused digital services.
- Progress: Drive solutions and innovations to support an effective retail market now and in the future.
We also introduced our four key areas of focus that will be included in our Forward Work Plan for 2025-28. This includes:
- Service Excellence
- Consumer protection and data security
- Innovation and market facilitation
- Upcoming regulatory adjustments
The webinar was designed to be highly interactive, with Q&As and live polling to gather real-time feedback, helping to shape our priorities in the coming years. Thank you to everyone who joined and provided detailed feedback.
Summary of stakeholder feedback
Throughout the webinar, we asked for stakeholder feedback, and we are pleased to report:
- 92% of attendees agree with our strategic aims;
- 81% of attendees felt the presentation gave them a good understanding of the approach we are taking to the FWP over the coming years;
- On average, over 90% of attendees agreed with our strategic priorities for the Forward Work Plan.
Watch the recording
Watch the recording below or download the presentation slides here if you missed the webinar.
Next steps
The strategy document will be released in December for comment, while the draft Forward Work Plan will be available in January for consultation. In January, we will host a webinar to guide stakeholders through the draft Forward Work Plan, with the final version set to be published by the end of March. Additionally, we will release our budget document in February 2025, accompanied a supporting webinar to ensure we can answer any questions you may have. More details and registration links for these webinars will be provided soon.
If you would like to discuss any aspects of our Strategy or Forward Work Plan further, please contact us at recco_strategy@retailenergycode.co.uk
