Market Operator Service Limited (MOSL) has announced its 2018/19 business plan was approved by its voting members after the document was presented at the organisation’s general meeting on 15 December.
The final business plan incorporates a total budget of £10.7 million, including a base cost of £8.9 million, a £1 million budget for change costs and a £0.8 million market audit cap.
MOSL said the budget marks an overall 18 per cent reduction in its membership charge compared to last year.
In a statement, the market operator said: “We would like to thank all of our members for your time, collaboration and support in shaping our plans for next year and to our voting members for demonstrating your confidence in us, and our plans as the enduring market operator, by voting to approve the plan.”
The full business plan is expected to be published on the MOSL website early in the New Year.
MOSL was appointed as the official market operator for the non-household water retail market, which opened on 1 April.
As of 1 December, the total number of supply points to have switched reached more than 86,000, according to the latest figures from MOSL.
The pace of water switches was shown to have slowed in the second quarter since market opening in MOSL’s CEO Quarterly Market Review published on 26 October.
MOSL will publish its third quarterly review, covering the first nine months of the market on 25 January.