As RECCo approaches five years of live operation, the report highlights how the organisation has continued to deliver reliable Retail Energy Code (REC) services while supporting major industry change, including Energy Code Reform, market digitalisation and the transition to the licensed Code Manager model. Reflecting on the year, CEO Sid Cox said:
“The progress we’ve made reflects a shared effort across the industry, and we’re committed to building on this partnership to deliver a retail energy market that is stronger, future-fit and better for consumers.”
What you’ll find in the report
For the first time, this year’s report brings together annual reporting on both the Code Manager Service and RECCo’s wider services. This provides a single view of our performance, achievements, and future priorities.
It includes:
- Delivery against the Forward Work Plan
- Financial and budget performance
- Key lessons and insights from our services
- The value delivered for industry and consumers
- Priorities for the year ahead
Over the past year, RECCo continued to support some of the energy sector’s most significant change programmes while maintaining high-quality services for REC Parties and consumers.
Among the achievements featured in this year’s report are:
- Stakeholder satisfaction rose for the third year in a row – now up to 7.6/10.
- We won global recognition for the Energy Theft Tip-Off service and successfully piloted the Energy Theft Enforcement service.
- Our REC service providers met 96% of their KPIs, with £120k returned to the industry through performance credits.
- Ofgem confirmed its intention to grant RECCo a Code Manager Licence from November 2026, and more recently invited us to participate in the licensing assessment phase for the future Electricity Commercial Code (ECC) Code Manager role.
Alongside these achievements, the report explores how RECCo delivered value through strong financial management, effective service delivery and close collaboration with stakeholders across the industry.
Looking ahead
As RECCo enters its sixth year of operation, our focus remains on delivering high-quality services while getting ready for the changes ahead. This includes supporting Energy Code Reform, continuing our work on digitalisation and preparing to become the licensed REC Code Manager.
Chair of the RECCo Board, Hannah Nixon, said:
“We’ve made strong progress in preparing to become the licensed REC Code Manager from November 2026 as part of Phase 1 of Ofgem’s Energy Code Reform programme.”
In May, Ofgem confirmed that RECCo will take part in the licensing assessment process for the future Electricity Commercial Code (ECC) Code Manager role on a non-competitive basis. Commenting on the announcement, Hannah said: “This represents a significant development in our journey, creating opportunities for greater alignment and coordination across industry codes.”
By working closely with REC Parties, service providers and other stakeholders, RECCo will continue to support a retail energy market that works better for industry and delivers positive outcomes for consumers.
Read the report
Download the report to learn more about RECCo’s performance, achievements and priorities for the year ahead.
If you have any questions about the report, please contact communications@retailenergycode.co.uk.
We’d also welcome your feedback to help shape future reports – complete our short survey here.
