MOSL publishes strategy on improving data quality in the water retail market

MOSL has set out views on how data quality in the water retail market could be significantly improved.

Its new Market Data Strategy is centred around four themes, each of which details the associated key milestones, roles and responsibilities of market participants and legislative considerations:

• reduce the cost and increase the value of market data.

• increase the completeness and accuracy of market data.

• develop a Market Data Framework.

• use data proactively to uncover risks, issues, and opportunities.

MOSL said it will now develop a data and analytics roadmap, outlining the activities that will support the delivery of the strategy over the next five years and beyond. It explained that prioritisation of the activities will be informed by the outcomes of the first theme, which involves an in-depth analysis of the cost and value of data.

The strategy was produced in partnership with information management consultancy Aiimi and in collaboration with trading parties and wider market stakeholders, including Ofwat and CCW.