View from the Panel Chair
As the new Chair of the Panel, 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 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, was mindful of this in its consultation response. It will be important to ensure value, however, take opportunities to accelerate delivery against priorities which will deliver significant benefits to the market and its customers where these arise.
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 its formal response letter to the draft plan, the Panel 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.
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.