This Practice Note introduces the new Retail Energy Code (REC) introduced in early 2019 to govern the retail aspects of the gas and electricity markets in Great Britain (GB) and to implement the Office of Gas and Electricity Markets’ (Ofgem) Switching Programme. It covers the legal basis for the REC, the background to its development and implementation and the key provisions of the REC. It also gives some practical insight into how the REC may evolve over time.
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