RECCo’s priority has always been to deliver its obligations under the Retail Energy Code (REC), and to do so in an innovative and forward-looking manner.
The first step in this process was the successful delivery of Retail Code Consolidation (RCC) in September last year. Since that time, we have been building on those foundations in preparation for switching programme Go-Live and the implementation of the associated governance for REC Version 3.0.
That Go-live is now less than a month away, with the Switching Programme taking the formal Go/No-Go decision at the Delivery Group on 30th June 2022. To help inform this decision, I am extremely pleased to be able to report that we submitted our final readiness assessment with a status of ‘on-track’ for Go-Live.
As you will be aware through the updates we have shared previously in our newsletter, this has been another substantial delivery project for RECCo.
Across our four workstreams of Strategic Engagement, Code Manager Operational Readiness, Enquiry Services Party Under Integration and REC v3.0 drafting we have worked, in partnership with Ofgem, the Code Manager, the DCC and our other service providers, to deliver our role in this significant industry programme. This has been a major collaborative effort both inside and outside the organisation.
I would like to formally record my thanks to all the people who have supported this delivery ensuring that we have delivered all of the following activities on time, within budget and to the RECCo quality standard:
The completion of all RECCo workstreams means we are now ready for operating the new switching arrangements under the REC on 18th July 2022. We know that there will be more challenges ahead, but for now, a big thank you to the collective team for their dedication and commitment to reach this point, and I look forward to updating you next month as we commence transition to the enduring operation of the new arrangements.
Whilst much of our focus has understandably been on CSS readiness, we have also been working hard to deliver another critical industry process. I am pleased to report that we have completed our project to implement the administration of Ofgem’s Market Stabilisation Charge (MSC) under the REC.
I can confirm that today, the RECCo Project Steering Group agreed that the service will go-live from 30 June 2022, meaning we are operationally ready should the MSC be triggered. This decision was based on completing a number of milestones over the past month, including the Authority’s approval of REC Change Proposal (R0035) which puts in place the administration of arrangements on 30th June 2022 and the final testing of our business processes and IT system to support the end-to-end process.
Once again, well done to all involved, in particular the Code Manager and our colleagues at the C&C Group, ElectraLink and Xoserve in meeting the challenging project timeframes.
As part of our responsibility for the ongoing effective and efficient governance of the retail energy market and management of REC Services, we are responsible for ensuring that the Market-Wide Half Hourly Settlement (MHHS) Programme requirements that impact the REC and REC Services are defined, developed and delivered.
To support us in meeting this responsibility, RECCo was granted increased representation in the MHHS Programme governance groups through unanimous approval of the programme Change Request CR008.
This is an important step for us to help ensure the impacts on the REC and REC services are fully considered within the programme and we want to thank stakeholders and the MHHS Programme for their support. You can find out more in this month's article.
Finally, an update on our Metering Code of Practice Consolidation Review project, another key deliverable under our Forward Work Plan for 2022-2023.
For those less familiar with the project, the current metering codes of practices under the REC largely transitioned on an ‘as is’ basis as part of REC Version 2.0. This was alongside a recommendation from Ofgem to further consolidate the arrangements into a single set of arrangements that could be delivered by a single scheme auditor, driving efficiencies for REC Parties.
The project is currently progressing well and on track with all REC drafting now developed and subject to industry review. Our Programme Updates section provides more detail, including how you can get involved.
I hope you all enjoy this month’s newsletter and I also wish everyone a successful transition to the new switching arrangements.
As always, if you have any suggestions on how we can better engage with you as our stakeholders please email the team at communications@retailenergycode.co.uk.