The development of the Budget followed the closure of the consultation window for RECCo’s draft Forward Work Plan and budget for 2025-2028. It has been shaped by the feedback received from REC Parties and carefully considered by the RECCo Board.
You can also view or download the full document using our embedded PDF viewer below.
Key Budget Takeaways
Our 2025-26 Budget reflects a 4.7% increase compared to the previous year, with approximately £9m in contingent costs dependent on project developments.
Based on your feedback from last year, we’ve made several improvements to our Budget:
- Greater transparency: Publishing Business Cases to support our work programmes
- Clearer comparisons: Providing year-on-year budget breakdowns
- Enhanced disclosure: Including more details on headcount
- Refined allocations: Adjusting Change Investment and Contingency allowances
- Cost efficiency: Implementing in-year cost reductions
Join Budget Webinar
Join us for an interactive webinar on Wednesday, 26 February 2025 (11:00-12:30 GMT). We’ll break down the key elements of our 2025-26 Budget, provide insights into our financial planning, and answer your questions live. This is your opportunity to gain a clear understanding of our finances and how they impact our priorities for the year ahead.
Share Your Feedback
We value your thoughts on our annual Budget. If you have any questions or need more information, please contact our Chief Financial & Commercial Officer, Brian O’Shea: brian@retailenergycode.co.uk
In accordance with Section 9 of the REC, the Budget is subject to a 10-working day budget appeal window, which closes at 17.00 on 5 March 2025.
Thank you for your continued support. We look forward to collaborating closely to deliver on our commitments for 2025 and beyond.
