The second round of the non-household market’s Market Improvement Fund (MIF) is now open and accepting bids. The MIF, which MOSL is facilitating on behalf of the Strategic Panel, funds projects that can make a positive impact on the market and deliver benefits to business customers. Individuals or groups can apply for between £10k-£150k funding until the bidding window closes on 23 March at 12pm. Following the success of the first round in September 2021, the total fund amount has been increased by £500k to £1.5m and is funded by a proportion of performance standards charges. 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).
Following submission, each application will be reviewed by MOSL to ensure eligibility and be assessed by an independent Selection Committee. Subject to ratification by the Strategic Panel, the winning bids will be announced in May 2022.
The full application pack is available to download as a zip file here, as well as via the MOSL website.
Steve Formoy, MOSL’s Director of Finance says: “We are proud to be bringing the second round of the Market Improvement Fund to the non-household market on behalf of the Strategic Panel. Following an exciting first round which saw seven successful projects receive funding, we want to encourage more individuals and groups to access this fund for any projects that can drive real change to the market and its customers.”
