We’re ready to bring consumer consent to the retail energy market
Ofgem has launched a new consultation on the development of an industry-wide consumer consent mechanism that will make it easier for consumers to consent to sharing their energy data. When shared securely with trusted third parties, this data will be key to reducing consumer bills, reducing energy and focusing on when people use energy, ultimately […]
Introducing our first Quarterly Report
We are pleased to present our first quarterly report, which provides a comprehensive update on our progress towards the four key priorities outlined in our Strategy and Forward Work Plan (FWP) for 2024-2027 and how our services are performing so far. By implementing quarterly reporting, we aim to keep stakeholders informed throughout the life cycle […]
Webinar round-up: Countdown to Market-Wide Half-Hourly Settlement
On July 18th, 2024, we hosted a webinar for all REC Parties to explain the significant changes that Market-Wide Half Hourly Settlement will bring to REC arrangements. The webinar also covered the tasks REC Parties must complete over the next nine months to ensure REC compliance at MHHS go-live. We want to extend our gratitude […]
Successful first payment cycle: Prepayment Levelisation achieved for 39.95 million energy meters
We are pleased to announce that the initial payment cycle for the Prepayment Levelisation scheme was a great success. Industry submitted their data within the agreed timescales, and only minor data validation errors were identified, which were quickly rectified. Invoices were issued on time, and 99.9% were paid within the time limits, meaning that monies […]
Update on RECCo’s continuous improvement programme for the Code Manager Service
As part of our commitment to ‘Delivering Service Excellence’ outlined in our Forward Work Plan for 2024-2027, we have initiated a programme of further enhancements for the Code Manager service for 2024/25, as the initial term of the Code Manager Service Providers’ contracts ends in August 2024. This project aims to thoroughly evaluate the performance […]
Join our webinar: Countdown to Market-Wide Half-Hourly Settlement
We are inviting all REC Parties to a Market-Wide Half-Hourly Settlement (MHHS) webinar on July 18th, 2024. In this webinar, we will explain the important changes MHHS will bring to REC arrangements, as well as the activities REC Parties must complete over the next nine months to ensure REC compliance. To learn more and register, […]
Introducing our 2023-24 Annual Report
We are delighted to present our Annual Report for 2023-24. This report provides an overview of our activities in the previous financial year, including our major accomplishments, operational highlights, and our performance compared to our budget. Read the report in full here.
Work continues to finalise our Third Party Intermediary Code of Practice
On March 12th, we hosted a webinar which discussed our plans to introduce an accreditation and audit framework to the Third-Party Intermediary (TPI) Code of Practice. This code was originally published in October 2023. After receiving feedback during the webinar, we have taken some time to review the questions and observations that were raised. Before […]
Reflecting on the conclusion of the Market Stabilisation Charge
In October 2023, Ofgem announced that it would allow the Market Stabilisation Charge (MSC) to lapse after the 31st March 2024. Now that the settlement process has ended, we want to take the opportunity to highlight key information for Suppliers and reflect on the scheme’s success. Understanding the Market Stabilisation Charge (MSC) The MSC was […]
Your guide to Prepayment Levelisation
We are delighted to announce that the Prepayment Levelisation scheme was successfully launched on April 1st, 2024. We are proud to have delivered this service within the allocated timeframe and budget