Today MOSL publishes its 2021/22 Annual Market Performance Report which provides an overview of trading parties’ performance and assurance over the past 12 months.
This is the fourth Annual Market Performance Report (AMPR) produced by MOSL since the market opened. Last year’s AMPR was dominated by the impact of COVID-19, however, in 2021/22 we have seen performance return to more ‘normal’ levels as core activities such as meter reading resumed.
The report is published against a backdrop of the MPF Reform, a key improvement programme for 2022-25 Business Plan. This programme will ask fundamental questions about what a future framework may look like, including performance standards, however, in 2021/22 we have used the existing framework to focus attention on addressing key market frictions, such as data quality.
Key Themes
In 2021/22 we worked with trading parties, Ofwat, CCW and the MPC to introduce a set of Additional Performance Indicators (APIs) for areas such as meter reading and completeness of data. We have already seen some improvement across a number of these which have been called out in the report.
As part of this work, we also produced new holistic reports to provide a view of trading party performance across multiple metrics. These reports, which were developed with input from trading parties, are a key tool in monitoring and tracking performance across trading parties. They also allow the MPC to focus attention on areas where market performance could be improved for individual parties.
The report also includes a market audit summary. No issues were identified by the market auditor in the audit of settlement calculations and audit findings for trading party meter reading and vacancy status completeness will be published in Summer 2022.
You said, we did
Following feedback from trading parties, we made several changes to improve the effectiveness and usability of our 2021/22 AMPR. As well as reducing the length of the report, we have focused on highlighting good practices and areas of collaboration. We would like to thank trading parties for contributing to the report through their case studies. These case studies will also be shared via our social media channels in the coming weeks.
To accompany the report, we have provided a briefing pack for members to use within their organisations. It includes a summary of the key themes and a look ahead to 2022/23.
Adam Richardson, Market Development Director said:
“While we have seen performance return more or less to pre-COVID levels, it is important to recognise the ongoing impact of the pandemic in assessing performance across 2021/22.
We know it remains a challenging environment and we welcome the performance improvements made over the last year. In 2022/23 the MPC will seek further insight into how performance can be improved and will use the holistic reporting to focus action on performance outliers.
The MPF Reform will also be a significant programme of work and it will require ongoing collaboration and input from trading parties to ensure we develop an appropriate and proportionate framework that incentivises outcomes for customers and drives the right behaviours in the market.
I look forward to us working closely with the MPC, trading parties, and our key stakeholders as we progress this important work in 2022/23.”
If you have any queries regarding the AMPR or any of the improvement work being led by MOSL, please contact
