Codes Panel and MOSL chair roles to be separated

The chair of the Codes Panel will no longer need to be the chairman of MOSL, under Code governance changes approved by Ofwat and published last week.

The regulator agreed to CPM026, which provides for expansion of the eligibility criteria for the post of Codes Panel chair, from the chair of the market operator only. The change addresses a potential conflict of interest given the panel can make decisions that impact MOSL.

The panel chair will be appointed for a three-year term and may have a maximum of three terms in office.

CPM026 also expands options for who can deputise for the panel chair in his/her absence, from an independent director of the market operator only to any independent panel member.

The changes will be implemented on 28 August.