Today MOSL has published its Annual Report and Financial Statements for the year ending 31 March 2022. The report sets out the market operator’s expenditure for 2021/22 in line with its approved budget, as well as the delivery of our business plan commitments.

Total operating and capital expenditure in 2021/22 was £11,056k - £359k (3.1 per cent) lower than the budget set out in its 2021-24 Business Plan. £424k of Market Operator (MO) Charges will be redistributed back to members, driven by spending less than budget and from the income collected for additional services.

Reflecting on the events from 2021/22 including the ongoing impact of the pandemic; the emerging energy crisis; and the increasing focus on the environment, the annual report outlines the work MOSL has undertaken, working with its members, to resolve key market frictions and enable the market to deliver improved outcomes for customers and the environment.

At the end of 2021/22, four of MOSL’s nine improvements were fully delivered by the end of March 2022. A further four were above 90% completion and one was over 80% complete – in part due to resources being reprioritised to the Bilateral Transactions Programme. At the time of the Annual Report publication (8 June 2022), all outstanding commitments have now been delivered. We have rationalised our nine existing improvement programmes down to five in our 2022-25 Business Plan as some effectively move into business as usual.

We also continued to deliver strong performance in our core services, with trading parties rating us an average of 4.0 (from a scale from 1-5, 1 being “extremely dissatisfied” and 5 being “extremely satisfied”) across our core service delivery. This is up from 3.9 in our 2021 survey.

In publishing the Annual Report and Financial Statements, MOSL CEO, Sarah McMath, said “In what has been another difficult year for the non-household market amidst global challenges, I am pleased to present our Annual Report and Financial Statements. As well as outlining our spend in 2021/22, the report serves to emphasise our commitment to driving improvements in the way we operate.

Working closely with our members, we have seen a number of successes this year. The implementation of the Bilaterals Hub in September 2021 was a significant milestone, not only for us as market operator and delivering against our business plan commitments, but also in making it easier for trading parties to do business in the market – a continuing theme of our rolling three-year business plan. I am also pleased with the great strides we have taken in improving our data analytics capabilities and in providing insight to the market to support customer and environmental benefits.”

Chair of the MOSL Board, Anne Heal, added “There is no question that it remains a challenging environment for those operating in the market. As the market operator, it is our responsibility to ensure we do our very best to improve the market for existing and future market participants and, importantly, their customers. Our annual reporting is very much embedded in our working practices and part of our commitment to being transparent in how we deliver the commitments we make to our members.”

Following approval from the Board, members will be asked to formally adopt the Annual Report and Financial Statements at a General Meeting being held in July 2022. Members will also be asked to approve the appointment of BDO as statutory auditor for 2022/23 with the Audit and Risk Committee agreeing the audit fees.

The General Meeting will be held on 20 July 2022. Notice of the meeting will be sent to members at least 14 days in advance. 

If you have any questions about the Annual Report and Financial Statements, please email This email address is being protected from spambots. You need JavaScript enabled to view it..

Notes to Editors:

• MOSL was set up in 2015 and is the market operator for the non-household retail market in England
• MOSL operates the non-household market for the benefit of its members and the customers they serve
• MOSL’s members are the wholesalers and retailers who operate in the market. A full list of members can be found on the MOSL website here: https://mosl.co.uk/about/our-members
• We work with retailers, wholesalers, customers and stakeholders to identify – and implement – ways to improve the market. 
• More information on MOSL’s business planning and quarterly reporting can be found on the MOSL website here: https://mosl.co.uk/services/market-improvement/business-planning
• The primary function of the Board’s Audit and Risk Committee is to assist the Board in overseeing MOSL’s financial reporting, the market audit process and internal risk management systems. More information on the Committee can be found on the MOSL website here: https://mosl.co.uk/groups-and-forums/board-committees/audit-and-risk-committee