This year’s report is the first introduced by our new RECCo Board Chair, Hannah Nixon, who reflects on our organisation’s direction and impact.
As I take forward my tenure, I do so with deep appreciation for RECCo’s progress to date and a clear understanding of our critical role in supporting the energy market’s transition.
A strong year for RECCo
The report presents our progress across major industry programmes, including Market-wide Half Hourly Settlement, energy theft reduction, digital transformation, and consumer data empowerment. It also marks the release of our Strategy 2025–30, developed with stakeholder input and centred on our Perform, Protect, Progress mission.
Achievements at a glance
- Met all Market-wide Half Hourly Settlement (MHHS) milestones on time
- Launched a scalable API gateway to underpin future REC Digital Services
- Delivered Payment Levelisation Reconciliation, supporting vulnerable consumers
- Re-platformed the Gas Enquiry Service to boost performance and resilience
- Improved the REC Change Process, accelerating delivery and stakeholder engagement
- Appointed by Ofgem to deliver the new Consumer Consent Service
- Proposed a dedicated Energy Theft Unit to tackle theft and protect consumers
- Achieved a 96% employee retention rate and national award recognition
- Improved REC Services satisfaction score from 7.0 to 7.5 out of 10
Responsible financial management
We outline how we’ve managed industry funds with transparency, discipline, and a commitment to delivering value. Highlights included:
- Procured services and managing performance through robust contracts
- Applied financial levers to drive service efficiency
- Controlled costs through strategic oversight
- Already returned surplus funds to industry—£4.3 million this budget year—with more to come
- Aligned our forward budget with delivery priorities through 2028
Focus on code governance and service performance
We also detail insights into the performance and ongoing improvement of our four core governance functions, along with actions taken to strengthen their effectiveness:
- REC Code Manager Service
- REC Change Management
- REC Performance Assurance
- REC Services
NOTE: A more detailed update focused on the REC Code Manager Service will follow shortly.
Time to take a closer look
- Explore the full Annual Report 2024-25 for a deep dive into our work, achievements, and future direction
- Share your feedback via our short survey or email us directly at communications@retailenergycode.co.uk
- Discover what’s ahead by reading our Budget 2025-26 and Forward Work Plan 2025-28
