For immediate release, 31 May 2018
MOSL publishes its first Annual CEO Market Review
Today MOSL has published its first Annual CEO Market Review to reflect on the first 12 months of the business water retail market, which opened on 1 April 2017.
This report provides information on market activity during the flagship year of the market as well as an overview of the changes considered by the industry Code Panel, improvements made to the central market systems, and the work supported by MOSL-led industry groups such as the User Forum and the Digital Strategy Committee.
The Annual CEO Review also considers the key areas of focus for the second year of the competitive market, such as the approach MOSL will take in collaboration with the wider industry to address key market issues and drive forward market improvements.
Notable highlights from the first year of the market include:
- Stable operation of the market and its central systems, enabling more than 85,000 daily transactions and over 123,000 switches in the first year
- Improvements to the functionality of the Central Market Operating System (CMOS) and the establishment of a new Digital Strategy Committee to assess and prioritise digital projects aimed at reducing market friction and supporting a well-functioning market
- Consideration by the industry Code Panel of 35 changes to the market codes across a diverse range of areas and the establishment of five Panel Committees to support the Panel in specific areas of market change
- A comprehensive review led by the Panel’s Market Performance Committee (MPC), supported by MOSL, of the Market Performance Standards (MPS) to help drive performance improvement by retailers and wholesalers in key customer-impacting areas
MOSL’s CEO, Chris Scoggins, said: “This report marks a year both of successes and of lessons learned. We have deepened our understanding of market issues, and seen some encouraging results from early efforts to drive forward improvement in key areas. However, there is still much to do to make the market the best it can be. We look forward to working with all of our members and stakeholders in year two to deliver an efficient and effective market on behalf of end customers.”
For more information please email Hannah Brankin or call her on 07948 466738.
Background information on MOSL’s market publications
The publication of the first CEO Annual Review marks a new approach to MOSL’s regular market publications. During the second year of the market, market activity highlights, such as switching and market share analysis, will be provided in MOSL’s monthly Market Focus publication, whereas the CEO Quarterly Review will focus on market performance trends, including retailer and wholesaler performance against the Market Performance Standards (MPS). MOSL will continue to publish its CEO Annual Review summarising and reviewing the status of market issues and setting out areas of focus for the year ahead. Full details on forthcoming publications can be found on the calendar page of the MOSL website.
MOSL is a company owned jointly by all the water companies who trade in the competitive business retail water market in England, which opened on 1 April 2017.
We provide infrastructure, information and governance services to enable customers to switch retailer and for settlement to take place between wholesalers and retailers.
As market operator, our remit is to enable the market to operate effectively and efficiently and provide a ‘level playing field’ for all companies operating in the market.
During the preparations to open the new market, MOSL’s primary responsibilities were to design, build and implement the central IT systems at the heart of the new market, to support the finalisation of the market codes by the Interim Code Panel, and to support water companies to ensure that the market could open on time.