Non-household water market operator MOSL has proposed cleansing centrally held market data to improve its quality and support trading partners.
The body proposed centrally cleansing data held in the central market operating system (CMOS) as a service for all users. MOSL said the initial focus would be removing non-eligible premises and improving address data, which were highlighted as priorities by trading parties.
Poor quality and incomplete data has repeatedly been cited as a friction in the retail market and source of inefficiency for wholesalers and retailers alike.
MOSL suggested a data cleanse service two years ago when it was estimated that managing poor data cost the sector £10 million annually. In an assessment taken earlier this year, 42% of CMOS records were found to be inexact or non-definitive. Of these, 26% of addresses had ‘probable’ or ‘possible’ matches; and 16% of records could not be matched to external data sources and require investigation by wholesalers.
The cost to deliver the service is estimated to be £750,000 to £1 million for the first year, with the initial phase being funded by wholesalers. MOSL proposed this would be paid through increased market operator charges levied at wholesalers.
The organisation plans to include the service in its draft 2023-26 business plan to be published in January following a consultation period and feedback. The consultation is available on MOSL’s website.