We are developing our thinking and strategic planning for 2022/23 and we want your input.
We want to ensure that we deliver against to our mission statement to:
“Facilitate the efficient and effective running of the retail energy market, including its systems and processes. It will promote innovation, competition and positive customer outcomes."
In doing so, we will also ensure our core values are embedded in how we deliver our mission statement.
Building on our plans from last year, we want to ensure our core work, service delivery and service enhancement, are provided to a high level. Improvement to existing services will form a significant part of what we deliver next year.
We will also continue the development and implementation of new arrangements. These will include:
Beyond these, there are a range of workstreams to develop our thinking on matters that did not form part of the original design requirements of the REC as set out by Ofgem, but which we do consider are appropriate in light of emerging market requirements and to fulfil our strategic aims.
These will all be subject to further industry engagement and consultation, but at this stage they include:
1Further development of the RECCo digitalisation and retail data strategy, including:
2Consumer insights – better understand the likely market scenarios that may emerge over the next few years and test the preparedness of retail arrangements for them (e.g. MHHS, emerging heat networks and expansion of EV charge points).
3Adaption to emerging policy – anticipate the impact on retail arrangements of:
We are keen to engage with you to better understand what you think our strategic priorities should be over the coming years.
We will be holding a series of discussions with relevant stakeholders as part of our strategy development, building up to an open remote workshop to be held early December.
Further details will be published shortly, but in the meantime if you would like to register your attendance for the workshop or suggest any areas which we should focus on, please contact the RECCo strategy team.
The draft forward work plan, including the proposed budget for the year ahead and forecast for 2023/24 and 2024/25, will be published by 14 January 2022.