MOSL's 2022-25 Business Plan reflects the market priorities that have been identified by MOSL and key stakeholders building on our previous three-year plan. We have actively consulted with the Panel and trading parties during the development of the plan to ensure our improvement programmes target the key issues in the market.
In doing so, we have rationalised our previous improvement programmes from nine down to five in the areas that will drive the most significant improvement to the non-household market and its customers.
Our improvement programmes are:
- Bilateral Transactions Programme
- Strategic Metering Review
- Modernisation of Systems
- Data Insight
- Market Performance Framework Reform
The existing improvement programmes have now been built into our business-as-usual activities.
Whilst improving the Market Performance Framework was part of our 2021-24 Business Plan (under the theme Market Assurance) we have developed this work into a key improvement programme. This recognises the criticality of the MPF as a mechanism to incentivise improved trading party performance and outcomes for customers.
We received strong support for increasing the budget for the MPF Reform through our consultation. Total costs will increase by £150k making our total expenditure £11,550k for 2022/23, but market operator (MO) charges will remain unchanged at £11,400k. The £150k of spend will instead be funded from reserves, using expected underspend from the current financial year.
Following its approval by members, MOSL CEO, Sarah McMath, said:
“I have been encouraged by the strong support we received through the consultation for the programmes and priorities we set out. By listening to your feedback during the course of the year we have developed a business plan that is a natural evolution on last year’s plan and continues to address the market frictions identified by Ofwat and market participants.
We have retained our focus on ensuring that we deliver a plan that makes it ‘easier to do business’ in the non-household market through the efficiency of the core services we provide and the improvements our programmes will drive.
Whilst we recognise the economic climate and the ongoing pressures that trading parties are facing, I believe the plan and budget set out represents value for money for our members and, ultimately, business customers.
This work cannot be delivered in isolation, and we are at a critical point in the market with the regulatory reviews firmly underway. I look forward to working closely with you and your teams as we deliver the plan and unlock the value of this market.”
Further information on the changes made to our final plan can be found on the News page. A recording of the General Meeting is also available here.
If you have any queries regarding MOSL’s 2022-25 Business Plan and budget, please contact
