The water retail market operator MOSL expects to spend £600,000 on a market-backed “bilateral solution” to solve the communication issues experienced by wholesalers and retailers.
In its business plan for 2019/20, MOSL said there are currently 734 active wholesaler/retailer agreements in place – 317 of which were added since market opening.
The solution will be “wide-ranging” with respect to transactions covered, and MOSL will seek a code change to make the approach mandatory, to “maximise the benefits”. “At this stage we think that offering a technology solution is most likely to meet the needs of the market,” said the business plan.
The market operator proposed a total 2019/20 budget of £10.7 million. This is on par with the 2018/19 budget and 3 per cent lower than the £10.9 million 2019/20 budget projected in the approved 2017/18 business plan.
As well as provision for a “bilateral solution”, the overall budget includes a new “market improvement fund” of £250,000. This has been created to deliver targeted market improvement initiatives “over-and-above” MOSL’s operational market improvement work.
In a letter to members, seen by Utility Week’s sister title Water.Retail, MOSL chairman Jim Keohane said the company will continue to invest where it is in the interests of the market, and remains “committed to being cost-conscious”.
The business plan and budget are yet to be approved by members. A vote will be carried out at the general meeting on 14 December. Alternatively, members can vote by proxy by 12 December.