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
Strategy & Forward Work Plan 2024-27
Following consultation and stakeholder engagement, we’re pleased to publish our final Strategy & Forward Work Plan for 2024-27. Your invaluable input and feedback have played a crucial role in shaping our direction for the coming years, and we are grateful for your continued support.
Webinar round-up: An update on our Third-Party Intermediary Code of Practice
On March 12th, we provided an update on our plans to introduce an accreditation and audit framework to the Third-Party Intermediary (TPI) Code of Practice
Driving transparency and accessibility: Our work so far to improve access to retail energy market data
We initiated our Open Data project in early 2023 to align with Ofgem’s data best practices and improve access to our data sources. Creating a metadata catalogue and roles matrix To start our work, we gained a comprehensive understanding of all the data that falls under RECCo’s control. We created a metadata catalogue containing detailed […]
ERIN is now even better at answering your questions!
In October 2023, we launched the first Artificial Intelligence (AI) tool designed to assist REC Parties and other industry members. Using Generative AI, ERIN, which stands for Energy Resource Information Network, is engineered to respond rapidly to REC-related questions in seconds. We’ve now released a number of enhancements to the tool to make it even […]
Webinar recap: Introducing our 2024-25 Budget
On 28th February, we held a webinar with stakeholders to discuss our 2024-2025 Budget and provide a deep dive into one of our primary objectives for the coming year: delivering service excellence.
Update on our Third-Party Intermediary Code of Practice
In October 2023, we published our voluntary Third-Party Intermediary Code of Practice (CoP) for non-domestic energy brokers and aggregators. At this time, we committed to introducing an accreditation and audit framework. Subject to the necessary change proposal being accepted by Ofgem, this will make it mandatory for non-domestic suppliers to use only intermediaries adhering to […]
Ofgem gives Standing Charge levelisation the green light
Energy consumers who use prepayment meters have historically paid more for their energy than those who pay via direct debit….
Ongoing progress to improve the Change of Tenancy process
Following our October webinar, we are pleased to share the progress made on improving the non-domestic energy market’s Change of Tenancy (CoT) process. The Change of Tenancy process requires improvement Last year, we conducted workshops with non-domestic suppliers and brokers to gain insight into the challenges they were facing in the energy market. One of […]