Protecting Consumers and Market Integrity: Administering the Theft Detection Incentive Scheme on Time and Budget
About the Scheme The Theft Detection Incentive Scheme (TDIS) plays a critical role in encouraging Energy Suppliers to take proactive measures to combat energy theft. TDIS provides financial incentives to Energy Suppliers for investigating cases of theft and rewarding confirmed theft detections. This reduces the economic burden on consumers and the potential for harm and […]
Have Your Say: Vote for the appointment of the next RECCo Board Chair and the Reappointment of Non-Executive Directors
As previously shared, the current Chair of RECCo, Dr Chris Anastasi, will complete his 6-year term on the 31st of March 2025. In accordance with Clauses 5.6-5.9 of the Retail Energy Code (REC), we are notifying all REC Parties that the Board, at its Meeting on the 11th of December 2024, unanimously approved a recommendation […]
Respond to our Draft Forward Work Plan and Budget for 2025-28
Following engagement with our stakeholders, we’re pleased to share our draft Forward Work Plan for 2025-28 for consultation. Your invaluable input and feedback have played a crucial role in shaping our approach for the coming years, and we are grateful for your continued support as we plan for the next few years. This document outlines […]
Webinar: Introducing Our Draft Forward Work Plan 2025 – 2028
We are pleased to invite you to our upcoming webinar, where we’ll introduce our draft Forward Work Plan (FWP) for 2025-2028. This plan outlines our key workstreams, financial projections, and strategic priorities for the next three years, focusing on our priorities for 2025-2026. In the coming year, we will be focusing on: Service Excellence […]
Introducing our Strategy for 2025-2030
Today, we are pleased to release our Strategy for 2025-2030, which outlines our vision and goals for the Retail Energy Code (REC) and RECCo over the next five years. You can download the document here. Share your thoughts via this feedback form. Feedback can be submitted until the 5th of February, 2025. If you’d prefer, […]
RECCo Responds to Ofgem’s Decision on the Future of the Central Registration Service (CRS)
RECCo’s Case for the Transfer The transfer of the CRS to RECCo presented an opportunity to align switching services with REC’s consumer-focused governance framework, enabling: Enhanced service delivery; Strategic alignment with REC obligations and Operational, management, and financial challenges to be addressed. We developed a robust case and provided evidence that we could deliver additional […]
Read our second Quarterly Report
We are excited to share our second quarterly report, offering a comprehensive update on RECCo’s progress against the four strategic priorities in our 2024-2027 Strategy and Forward Work Plan (FWP) and how our services are performing so far. We aim to keep stakeholders well-informed and uphold transparency throughout the FWP’s life cycle by providing regular […]
October 2024 Board Highlights
Highlights from our October 2024 Board Meeting.
Reduction in MHHS charges to REC Parties from October 2024
In May 2024, we discussed our plans to enhance RECCo’s budget process and improve transparency for stakeholders. Our goal is to ensure that our stakeholders can easily understand our policies and expenditures while also providing the information necessary to demonstrate that they, and ultimately consumers, are getting value for money. Today, we are pleased to […]
2023-24 Budget underspend of £9.8m to be returned to funding parties in October 2024 rebate
The financial performance for 2023-24 marked a significant milestone, reflecting our first full year of delivering the complete suite of Retail Energy Code (REC) services. Our 2023-24 budget was carefully designed to balance addressing immediate challenges and preparing for future needs as outlined in our approved strategy. Following the statutory audit of our 2023-24 results, […]