Water retail market operator MOSL, is launching its first Market Improvement Fund to fund innovative projects that can make a significant impact on the market and deliver benefits to business customers.
The fund, which will be accepting nominations from 1-30 September, gives individuals or groups the opportunity to apply for funding for projects between £10k-£150k from a £1 million pot.
The fund was established as part of a change proposal implemented at the beginning of 2020 to utilize performance standards charges for market improvement projects, rather than being redistributed back to trading parties.
Projects must:
- Enhance market functioning and benefit non-household customers
- Not be considered 'business as usual'
- Not confer any competitive advantage to any trading party or group of trading parties
- Be sponsored by at least one trading party or MOSL as market operator (however third-party bids are encouraged).
This is the first of several rounds of funding which MOSL expects to roll out each financial year.
Following submission, each application will be reviewed by MOSL to ensure eligibility and be assessed by an independent Selection Committee. MOSL is currently in the process of recruiting Selection Committee members, which will be made up of trading party, customer, and independent representatives.
Subject to ratification by the Code Panel, the senior industry group that oversees the operation and evolution of the water retail market, the winning bids will be announced in November 2021.
Trisha McAuley, Chair of the Panel said:
“We are pleased to announce the launch of the Market Improvement Fund, the first of its kind and one that is sure to bring positive change to the industry. The aim of this fund is to help better the market for its customers. I hope that it encourages collaboration and new partnerships, new ways of thinking and greater innovation in tackling some of the longstanding market issues, whilst also focusing on a sustainable future market.”
The full application pack, which includes the application form with accompany guidance, applicant handbook, governance document and Terms and Conditions, will be available to download via the MOSL website.
Further information on the timeline and criteria of the fund will be available shortly. Click here to access more information about the Fund.
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