MOSL underspends and delivers during Covid year

MOSL reported solid performance in its 2020/21 annual report, despite the challenges Covid-19 posed to the non household retail market and its operation.

Expenditure came in 6.5% under budget, with £10,470k spent of an allowed £11,200k. This was achieved through a combination of efficiencies, Covid-related savings such as on travel, and prioritisation of key improvement programmes.

MOSL said it had improved or maintained performance against 17 of its 20 Key Performance Indicators, with no significant reduction of service across the remaining three KPIs. It also completed 97% of business plan commitments.

The annual report and financial statements have been supplemented this year by quarterly reporting and an enhanced level of information provision in a number of key areas including market audit, corporate risk and remuneration. MOSL members will be asked to formally adopt the Annual Report and Financial Statements at a General Meeting being held in July 2021.

In her foreword, chief executive, Sarah McMath, said: “Much of this year has been focused on ‘building back’. As we move into 2021/22, I look forward to ‘building up’ and finding opportunities to look more strategically at the ways in which we can improve the market. This will be done within the context of the wider water sector reviews such as the 2024 Price Review, Water Resource Management Plans, the strategic review of the market and the industry’s water efficiency and net zero ambitions.”