MOSL promises more for less in draft 2021-24 business plan

MOSL has proposed a 1.1% cut in market operator charges for 2021/22, despite promising to spend more on improvement programmes to make the market work better.

In its first three year business plan, the draft of which was published for consultation last week, there was a detailed plan and budget for year one, 2021/22. MOSL said core services in the year ahead would be delivered consistently and more efficiently, at lower cost despite some increased scope (such as improved cybersecurity capabilities). However it said costs relating to improvement programmes would rise in the year, “driven by increased spend on the Bilateral Transactions Programme, with 2021/22 being a key year of delivery”.

At £11.3m, the total cost of the plan in 2021/22 was £115k higher than the budget for 2020/21. But MOSL said it would fund the higher short-term costs through reserves from expected underspend from 2020/21, rather than increasing market operator charges. In all, therefore, MOSL said charges would fall by 1.1% for 2021/22.

On improvement programmes, the plan went on to set out how MOSL would advance the market through to 2023/24, to provide better visibility for members. Charges for each year will continue to be set annually.

The consultation runs until 22 January. MOSL said it would publish the the final plan for member voting on 8 February.