View from the Panel Chair
As the new Chair of the Panel, I am pleased to be sharing with you the Panel’s response to MOSL’s draft business plan. In doing so, I would like to express my appreciation, on behalf of the Panel, for the comprehensive and proactive discussions we have undertaken with MOSL in advance of this plan being presented to trading party members.
The Panel welcomes the move to present a plan with a three-year planning horizon, which is aligned to the Panel’s priority areas of focus, and provides greater visibility, to both Panel members and trading parties, of MOSL’s future plans.
It is clear that the development of the first three-year business plan has been thorough and considerate of the current challenging economic environment in which the industry is operating. The Panel too, has been mindful of this in its consultation response, but believes there may be opportunities to accelerate delivery against priorities which will deliver significant benefits to the market and its customers sooner.
The Panel also welcomes and supports the increased transparency of costs associated with governance and change in MOSL’s business plan. In relation to Panel costs, it is important that trading parties can see what they’re paying for and that the context for indirect costs are clear. The Panel recognises its role in efficiency and in ensuring issues that need addressing are taken forward efficiently.
Overall, the Panel is supportive of MOSL’s 2021-24 Business Plan –including the reduced cost of delivering core services as well as the improvement programmes it sets out. In the formal response letter to the draft plan, the Panel has sought to respond to the specific questions asked in relation to market operator (MO) charges, Panel related workstreams and costs and MOSL’s wider improvement programmes.
On behalf of the Panel, I encourage trading parties to fully engage in this consultation process to ensure the final plan is reflective of the priorities of the market more widely. I look forward to working closely with MOSL over the course of the next three years, as we deliver improvements in the best interests of customers and the market as a whole.
