Trading party performance
The reformed MPF went live on 1 Dec 2025. Find out more about the change programme here.
The Market Performance Framework (MPF) is used to monitor trading parties’ performance against key activities, such as providing timely meter readings and processing switching requests, to ensure the market operates effectively for customers.
Trading parties' performance against these key activities is measured using eight key performance indicators (KPIs), which focus on three areas: meter reading, data quality and the delivery of bilateral service requests (i.e. retailers' requests to wholesalers to take a particular action, such as replacing a customer's meter).
The performance of trading parties is overseen by the Performance Assurance Committee (PAC) which, alongside the KPIs, uses other measures to understand companies' performance, and the health of the market, in more detail (see below).
Please use the links on the right to navigate to specific aspects of trading party performance.
New to the MPF?
We recommend watching our animation and introduction to the MPF in the 'training and guidance' section.
Summary of KPIs
A summary of each KPI, including whether they have associated performance standards and charges, is provided below. For the latest performance standards and charges, please use the link above.
|
Category |
KPI |
Description |
Performance standard? |
Performance charge? |
Responsibility |
| Cyclic meter reads | M01 | Cyclic (i.e. regular) meter reads performed within service level agreement - traditional meters | Yes | Yes | Retailer |
| M02 | As above - smart meters | Yes | Yes | Retailer | |
| M19 | As above - non-market meters | Yes | Yes | Wholesaler | |
| Transfer meter reads | M04 | Proportion of successful transfer meter reads | Yes | Yes | Incoming retailer |
| M06 | Missing or late transfer meter reads | Yes | Yes | Incoming retailer | |
| Data & bilateral KPIs (BR-MeX)* |
M12 | Proportion of premises with verified supply address and premises data | N/A | BR-MeX | Wholesaler |
| M15 | Total and average days late against bilateral service request SLA | N/A | BR-Mex | Wholesaler | |
| M18 | Proportion of bilateral SLAs completed on time in month | N/A | BR-Mex | Wholesaler |
*BR-MeX relates to Ofwat's 'Business Customer and Retailer Measure Experience'. Trading parties' performance against the three KPIs make up 25% of the BR-MeX measure. Find out more about BR-MeX.
Measure of Experience Surveys
As well as performance standards and charges, surveys are used to determine the quality of service being provided by trading parties:
- Retailer Measure of Experience (R-MeX) survey
- Business Customer Measure of Experience (B-MeX) survey
The Performance Assurance Committee (PAC)
The performance of trading parties is monitored by the Performance Assurance Committee (PAC), which is responsible for holding water companies to account and help ensure they deliver improved, and sustainable, customer outcomes.
In order to do so, the performance framework includes other metrics to help the PAC understand areas of underperformance, either by individual trading parties, or the market as a whole.