For immediate release 5 January 2018
MOSL publishes its Business Plan for 2018/19
Today MOSL has published its Business Plan for 2018/19. The Business Plan sets out MOSL’s priorities and budget for the financial year 2018/19.
As a company owned jointly by all the water companies who trade in the non-household retail water market, MOSL is required to seek approval of its annual Business Plan and budget by its water company members.
On Friday 15 December, the 2018/19 Business Plan and budget were approved by MOSL’s members at a General Meeting.
In the lead up to the General Meeting, MOSL engaged with its members and the industry Code Panel on its emerging plans. This feedback was used to shape the final version of the Business Plan approved by MOSL’s members and published today.
In line with the views expressed by MOSL’s members and the Panel, the 2018/19 Business is underpinned by two overriding principles: the need for cost and efficiency to remain at the top of the agenda; and the need to prioritise the stabilisation of the market in this early stage of its development.
The 2018/19 Business Plan incorporates a total budget of £10.7 million, representing an overall 18% reduction in MOSL’s membership charge compared to the 2017/18 budget. The budget consists of a base cost of £8.9 million including operating, system and people costs, a £1 million budget for market driven change costs, and a £0.8 million upper cap for the market audit that provides independent assurance of the compliance of companies operating in the market and of the market operator.
MOSL Chair, Jim Keohane, said: “The process through which our Business Plan was agreed followed a robust challenge from the Board and depended upon the engagement of our members, stakeholders, and their input through the consultation process. The approval by members of the 2018/19 Business Plan and budget is a great vote of confidence in our plans, our company and our people. Following the approval of the plan by MOSL’s members, the MOSL Board will provide oversight of its successful delivery by the MOSL Executive Team.”
Chief Executive, Chris Scoggins, said: “The 18% reduction in our membership charge compared to the current year is a very concrete demonstration that cost-efficiency is at the heart of everything we do. At the same time, we recognise the importance of stabilising the market during a year when we will still be running processes for the first time. Stabilisation is the golden thread underpinning our plans for the year ahead, which means investing in our people, processes and systems to deliver an efficient and effective market.”
For more information please contact Hannah Brankin, 07948 466 738.
Notes to editors
Market Operator Services Ltd (MOSL) is a company owned jointly by all the water companies who trade in the competitive non-household retail water market in England, which opened on 1 April 2017.
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. MOSL also played an important role in supporting water companies to ensure that they were all ready at the same time so that the market could open.
Now that the market is live, MOSL has taken up its responsibilities as market operator, providing the governance, infrastructure and information to enable customers to switch retailer and for settlement to take place between wholesalers and retailers. As the market operator, MOSL’s remit is to ensure that the market operates effectively and efficiently, providing a ‘level playing field’ for all companies operating in the market.
MOSL aims to be a lean and efficient organisation that uses the latest technology to help visualise market data and enable as much ‘self-service’ as possible by its members.