MOSL is funded by its members, the wholesalers and retailers who operate in the market.
The MOSL Board was appointed to ensure the values and standards of MOSL are upheld and that we act responsibly as market operator in the best interests of the market, our members and their customers. The Board oversees MOSL's performance in line with our obligations under the market codes and its code of practice. The Board is also responsible for holding MOSL to account for the delivery of its business plan commitments within the annual budget approved by members.
The purpose of the Board
The Board’s primary function is to provide oversight and ensure MOSL carries out its duties in accordance with the market codes. The Board’s responsibilities include:
- Setting the strategic direction for MOSL
- Submitting an annual business plan to members for approval and monitoring its delivery
- Reporting on the activities and performance of MOSL to Ofwat and the Panel
- Consulting with the Panel in respect of the budget and charges
- Overseeing the performance of MOSL’s management team
- Ensuring the required resources are available to enable MOSL to achieve its objectives.
Our Board members
The Board is comprised of an independent Chair, MOSL’s Chief Executive, up to four Independent Non-Executive Directors and three Industry Directors.
The Chair is sufficiently independent of any member or associated company of a member and is selected by unanimous decision of the Board Nominations Committee.
Independent Directors are appointed by the Chair, following recommendations from the Nominations Committee. Industry Directors are elected by the relevant member class. This includes:
- One Wholesaler Director elected by wholesalers
- One Unassociated Retailer Director elected by unassociated retailers
- One Associated Retailer Director elected by the associated retailers.
Both Independent and Industry Directors serve a maximum three-year term. The Board currently holds seven to eight meetings per year. Summary reports of the Board meetings are available in the table below.