Introduction from our CEO
The past year has been a year of profound challenge for the non-household market, as we have fought to get to grips with the impact of COVID-19, tackled the challenge of resilience and continued to resolve market frictions.
In our 2020/21 Business Plan, we made a commitment to make it ‘easier to do business’ in the market. This commitment has been tested by the pandemic, but throughout this year we have retained our focus on delivering improvements and reducing costs to our members, and ultimately the customers they serve.
Last year, I said I had been “struck by the energy and desire both within our team and across the market to move things forward”. This year, I have been equally struck by the overwhelming commitment from all parties to stabilise the market and the collaboration between my team, Ofwat, Defra, trading parties and other key stakeholders.
This year, we have continued to engage our stakeholders to understand the unique challenges of trading parties and how we are best placed to drive greater value in the market. In July 2020, we launched our newly defined purpose, vision and strategy for 2021-24 – which has informed this plan. This outlines our longer-term ambition of how we will grow and mature the market, leverage our independence, and acts as a single source of truth whilst driving efficiencies in the way we operate.
“We believe that this plan delivers the investments that our members and the market require, whilst recognising and mitigating the very real cost challenges that exist.”
Our strategic priorities of Service Excellence, Data Insight, Market Improvement and Organisational Capability are an evolution of the themes from our 2020/21 Business Plan and build on the foundations we put in place in 2020/21.
We have continued to put ‘easier to do business’ at the centre of our plan. This is in response to feedback we received from members that they had been frustrated in past years with MOSL setting unclear or unrealistic objectives that were neither met nor carried into following years.
Our first three-year business plan provides clarity on how we will deliver our commitments over the course of 2021-24 and provides assurance that we recognise our continuing commitments against the context of the economic climate we are facing.
Over the course of this year’s business planning process and in response to Panel and member feedback, we’ve consulted earlier and refined each iteration - this has meant reducing costs and seeking opportunities to achieve our collective objectives without seeking additional budget. Our process this year has focused on engaging our stakeholders to understand the pressures they face, as well as explaining the relevance to the market of the improvement programmes.
This plan, which is a rolling three-year business plan, focuses on driving efficiencies in our core service delivery, investing in the essential improvements to resolve long-standing market frictions to enable the market to deliver customer benefits and on keeping our Market Operator (MO) charges down.
We believe that this plan delivers the investments that our members and the market require, whilst recognising and mitigating the very real cost challenges that exist.