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 the Retail Energy Code. The REC and the RECCo Articles of Association set out the framework for the operation of RECCo.

RECCo Board

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 manner
• promote the long-term sustainable success of the company
• establish the company's purpose, values and strategy
• 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 managed
• ensure effective engagement with, and encourage participation from, shareholders and stakeholders
• ensure 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 Executive

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.

Mission

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".

Operating Model

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.

Funding

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 applicable charges.