RECCo Board meeting
11 February 2026
This update is the first of a bi-monthly briefing I will be sharing as RECCo’s Chair following each Board meeting. The purpose of these updates is to give REC Parties and wider stakeholders clearer visibility of the key matters discussed at the Board and the context shaping our direction.
These briefings reflect RECCo’s commitment to transparency and effective governance. These briefings will offer insight into the considerations that inform Board decisions and the priorities that guide RECCo’s work.
At our February meeting, the Board focused on the following areas.
Draft Forward Work Plan 2026–29
Consultation responses and Budget implications
The Board considered the feedback received in response to the January consultation on the Draft Forward Work Plan 2026–29 and 2026 Budget. This was summarised into key themes, and the Board also had full sight of all the comments received. We received responses from seven organisations, including REC Parties and the Energy Ombudsman.
The Board considered all responses fully. Key themes included proportionality and timing of policy-dependent workstreams; internal headcount growth and transparency of resource allocation; the scope and value of the Performance Assurance function; treatment of contingencies; clarity on mandatory vs discretionary activities; and enhanced Board engagement and transparency.
We had full regard to respondents’ views and considered whether amendments were required to the Forward Work Plan and/or the Budget. The Board noted that workstreams derive from Code obligations, prudent contract/service management, or anticipated requirements from the Strategic Direction Statement and regulatory developments. Exploratory “Think & Plan” activity is limited and does not commit RECCo to delivery ahead of confirmed direction.
Headcount growth reflects confirmed and anticipated obligations, including Code Manager licensing, Consumer Consent, and Service Evolution, with additional transparency provided in the Budget published on 20 February 2026. Contingent costs will only be incurred where obligations crystallise. The Board also noted that as part of the change in responsibilities, Performance Assurance is being refocused to ensure a proportionate, risk-based, outcomes-led approach.
Having considered all responses in full, the Board determined no substantive amendments to the Forward Work Plan or Budget were required. The Executive team has been directed to thank named respondents and offer meetings for discussion, and to seek opportunities to provide further clarity through the Budget webinar on 25 February 2026, Budget publication, and/or the Final Forward Work Plan 2026–29 publication, as appropriate.
The Board confirmed approval of the Forward Work Plan and Budget, followed by full consideration of views, and this is consistent with REC requirements. I would like to thank all those who provided feedback and encourage you to sign up for the 2026 Budget webinar.
Code Reform and progress towards becoming a licensee
The Executive team updated the Board on Code Reform and progress towards becoming the REC Code Manager licensee. Ofgem’s planning assumes a licence grant in November 2026, but RECCo is managing its own readiness to a date in advance of that aligned with new Code Manager Service Partner contracts.
The Board noted that Ofgem’s August 2026 notification of intention to grant the REC licence to RECCo (and the Balancing & Settlement Code licence to Elexon) had received no responses. The focus has now shifted to implementation readiness, with monthly meetings between the Code Reform team and Ofgem scheduled through to the licence effective date. The Board noted the recent feedback from Ofgem that RECCo’s state of readiness was “organised, front-footed and well prepared”.
We also understand that a further Strategic Direction Statement will be consulted on in spring 2026, which may result in formal directions for Phase 1 codes once licences are effective.
Review of Board effectiveness
The Board considered a paper setting out recommendations for the way forward arising from a recent independent review of Board effectiveness and from subsequent Board discussions, aiming to strengthen Board effectiveness through clearer roles and accountabilities, improved Executive–Board communications, and more strategic, rigorous decision-making. This forms part of our ongoing commitment to ensuring that governance evolves appropriately as RECCo matures.
Stakeholder engagement and communications priorities 2026–27
The Board approved the Stakeholder Engagement & Communications Strategic Plan for the year ahead. Effective two-way engagement and clear, accessible communication are fundamental to everything RECCo does. These are the mechanisms through which we ensure the Code operates and evolves transparently and responsively, in the interests of the community and consumers.
As RECCo’s Programmes and Services continue to develop, our stakeholder base is widening, with a growing range of users expected to interact with the REC and/or its services. The Board was encouraged by the revised stakeholder engagement framework, which more clearly connects RECCo’s mission, aims, and values to a new stakeholder experience model. This model sets out the key principles that RECCo and its Service Partners will follow as we transition later this year to a “one-door” stakeholder experience, designed to improve accessibility and simplify how stakeholders engage with the REC.
REC Services: Stakeholder satisfaction survey results
I’m pleased so share that the overall service satisfaction score across REC Services increased to 7.6 out of 10, reflecting an improvement on last year. Code Management delivery also saw progress, with satisfaction rising to 7.7 out of 10, and 70% of stakeholders rating services 8 or above.
Thank you to everyone who took the time to share feedback. Your input directly shapes our continuous improvement priorities and the change programmes outlined in our recent Draft Forward Work Plan 2026–29.
The survey results feed directly into the performance regimes for four contracted Service Partners. In some areas, service credit thresholds were not met, resulting in associated financial implications. As a Board, we review this performance closely to ensure accountability and value for money.
The findings are informing programme delivery and improvement plans with our Service Partners. These plans will be shared with stakeholders in the coming months, and progress will be actively monitored by the Board.
Areas identified for improvement align with key change initiatives for the year ahead, including the reprocuring of Enquiry Services, the relaunch of the REC Portal, and the service disaggregation and strategy being developed for REC Performance Assurance.
Future security responsibilities
The Board considered RECCo’s overall security and resilience position, including insights from a senior leadership cyber/business continuity exercise, the evolving threat landscape and strategic risks to RECCo’s credibility and effectiveness, and a routine information security update covering incidents, mitigations, and improvement activity.
Our discussion focused on strengthening governance, escalation and communications arrangements, ensuring preparedness for disruption scenarios, and improving organisational resilience and security maturity in line with RECCo’s role and stakeholder expectations.
Your feedback
Transparency and open dialogue with our stakeholder community are fundamental to how we operate as a Board. I value your feedback and welcome the opportunity to hear your views directly.
If you would like to discuss any of the areas covered in this briefing with me, please contact the team at communications@retailenergycode.co.uk and we’ll be pleased to arrange a conversation.
Hannah Nixon
Chair, RECCo Board
