Our improvement programmes demonstrate a commitment to move to a longer-term integrated plan through which we can deliver on our strategic priorities. The activities outlined in each improvement programme have been phased to consider the prioritisation of market needs, to avoid large peaks or upfront costs, and costed at an affordable level. The average annual cost is below the comparative 2020/21 budget.
This is the first business plan in which we have provided a multi-year view of our improvement programmes. While our strategy sets out what we will deliver, this plan outlines how we will deliver, including how the individual improvement programmes interlink and complement one another.
This section sets out the costs of the improvement programmes. The costs for 2021/22 form part of the overall MOSL budget for the year, which we will be seeking member approval for.
The improvement programmes and related costs for 2022/23 and 2023/24 represent our current plan. We will roll this plan forward each year, maintaining a three-year view. In doing so, we will seek to avoid major adjustments in future years, appreciating the need for a stable and consistent plan. We recognise, however, that this plan must be flexible to adapt to changing priorities, the economic climate and political landscape, and it must be responsive to trading party views.
Cost of our plan
In assessing our three-year improvement programmes to 2023/24 we have benchmarked against the 2020/21 budget of £1,560k, as this is the amount that was used to set Market Operator (MO) charges for 2020/21.
The cost and phasing of our improvement programmes through to 2023/24 has been developed in accordance with the following principles: