REC – The story so far

Version 2.0 of the Retail Energy Code (REC) went live on 1 September 2021. The latest version, which energy suppliers and providers of REC governed services must follow, builds on the initial transitional requirements of Version 1 by consolidating a number of existing market rules including the electricity and gas switching codes, the Master Registration Agreement (MRA) and the Supply Point Administration Agreement (SPAA). Version 2.0 also saw the launch of the enduring REC modification process, giving Parties to the code, the REC Code Manager, and other interested stakeholders the ability to propose changes. The modification process is somewhat different to other codes, with less of a role for industry workgroups and more emphasis on the Code Manager and expert panels developing changes.

At the time of writing we have seen 30 REC modifications raised, a substantial number within the five months of operation when compared to other codes.

Cornwall Insight offers REC modification tracking as part of our weekly regulatory report service. For more information please contact regulation@cornwall-insight.com

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When version 3 of the REC goes live alongside the new Central Switching Service, enduring arrangements incorporating all of the new switching arrangements will be introduced. As seen with the Smart Energy Code and the DCC systems, amendments to the code to reflect operational practices will likely be needed, and Parties may look to improve the arrangements based on their own experiences of switching customers.
Regulation and policy
Hursley Moss

Hursley Moss

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