The Retail Energy Code Company (or RECCo) is a non-profit company set
up in 2019, with the primary objective to oversee the development of
Energy Code. The REC and the RECCo Articles of Association set
out the framework for the operation of RECCo.
RECCo's appointed Board of Directors is collectively responsible
for the success of the organisation. Their stated role is to:
- ensure the REC is given full effect...in a manner
consistent with the REC Objectives and without undue
discrimination between REC Parties or Users
- ensure the
Board conducts its affairs in an open and transparent
- promote the long-term sustainable success of the
- establish the company's purpose, values and
- act with integrity, lead by example and promote
the desired culture
- ensure necessary resources are in
place for the company to meet its objectives and measure
performance against them
- establish a framework of
prudent and effective controls, enabling risk to be assessed and
- ensure effective engagement with, and encourage
participation from, shareholders and stakeholders
workforce policies and practices and consistent with the company
values and support sustainable success
Details of the appointed Directors can be found on the RECCo Website.
RECCo appoints an executive team, directly responsible for running
the business operations. In March 2021, Sid Cox was appointed as the
Chief Executive Officer with responsibilities for leading and
overseeing the executive team.
Details of the executive team can be found on the RECCo Website.
RECCo's mission is to "facilitate the efficient and effective
running of the retail energy market, including its systems and
processes...through promoting innovation, competition, and delivering
positive customer outcomes".
RECCo has adopted an outsourced service delivery model, contracting
with a variety of service providers to establish functions, processes,
and systems required by the REC. This includes the contractual
arrangements for the delivery of the Code Manager service.
RECCo prepares, consults upon, and publishes an annual strategy and
associated budget. This sets out the expected costs to be incurred by
RECCo over an annual period in meeting its objectives. Budgeted costs
are recovered from REC Parties in accordance with the mechanisms set
out within Section 9 of the REC. The RECCo financial period runs from
01 April to 31 March. The REC
Charging Statement is published on the REC
Portal to provide information to funding parties on their