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Ofgem has launched a significant code review with the aim of consolidating the Master Registration Agreement and the Supply Point Administration Agreement into a single Retail Energy Code.
The new code is intended to harmonise the switching arrangements between gas and electricity and make the process faster and more reliable. It is also expected to act as a model for wider reforms to industry codes as part of a joint review between Ofgem and the Department for Business, Energy and Industrial Strategy.
Ofgem says the review will allow it to determine and coordinate the numerous code modifications that will be necessary to merge the Master Registration Agreement and the Supply Point Administration Agreement into the Retail Energy Code.
Relying on “piecemeal modifications” would be “protracted, with no certainty of an orderly or timely outcome” and would make it harder to achieve the desired benefits of consolidation.
Ofgem plans to introduce the new code in April 2021 alongside new switching arrangements, which are also being examined in another significant code review.
The regulator says it will submit modification proposals to the relevant code panels in the final quarter of 2020, before making the final decisions on which to adopt in late January 2020.
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