MOSL drops membership charges 18% for 2018/19
MOSL published its 2018/19 business plan on Friday, setting out its priorities and budget for the coming financial year. This followed MOSL’s members approving the plan on 15 December after extensive consultation in the preceding months.
The market operator said the document 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.
At £10.7 million, the budget offers members an 18% cost reduction on 2017/18. This incorporates 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.
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.”
Read MOSL's Business plan HERE
MOSL has also updated its market data to reflect activity up to 1 December. See HERE