MOSL board approves bilaterals business case
The board of MOSL has approved the full business case for the bilaterals programme, which aims to improve the quality and consistency of service being provided to business customers by improving the way in which water wholesalers and retailers communicate with each other to deliver two-way processes.
Now, the £3.1m investment required for the programme (£420k in the current year) will be put to the vote by members at a general meeting on 30 October.
The programme will involve the development and implementation of a new bilateral transactions ‘hub’, which will hold the status of all processes that require retailers and wholesalers to work together, and which all trading parties will be required to use. The full business case identifies 15 financial and nine significant non-financial benefits of the programme. The financial benefits are estimated at £4.1m (2021/22 to 2024/25), with a payback of MOSL development and implementation costs of approximately four years.
The hub is being developed by the MOSL team and experts including CGI, which developed the original Central Market Operating System.