Graphic version of this page

Principle Activities 

The Company was formed to govern and oversee the Master Registration Agreement (MRA) and manage change and development of industry retail products.  The MRA is the legal agreement that provides the contractual framework for the registration process required to support the extension of the competitive electricity supply market.  The MRA is a multi-party agreement signed by GB Electricity Suppliers, Distribution Businesses, and the Settlement Body.  Shareholders of the Company fund the running costs of the Company.  The Company discharges its duty through a Services Agreement with Gemserv Limited.

The Company operates with the intention of breaking even.  The Company therefore makes neither a profit nor a loss. 


The Directors are as follows:

  • Alexander Travell
  • Kevin Woollard*
  • Adam Carden
  • Lorna Mallon*
  • Martin Hewitt
  • David Osbourne
  • David Jones*

*Alternate Directors appointed to attend board meetings in the absence of a principal director.


MRA Service Company Limited Directors' Report


Payment of Commercial Debts

The Company maintains a policy of paying its suppliers in accordance with agreed credit terms.

 Corporate Governance

The Company believes in complying with the principles of good corporate governance and this statement describes how these principles have been applied.


The Directors supervise the management of the company.  The Board meets frequently throughout the year and Directors may attend in person or by teleconference.  The Board has reserved certain items for its review and approval, including the annual accounts, significant capital expenditure and services agreements.  The Directors review the use of professional advisers and third party agents every three years.  The annual budget is approved by the Board members sitting as the MRA Executive Committee (MEC) before being presented to the MRA Forum (Shareholder Representatives) for formal approval and adoption.

 Finance and Audit Committee

The Group meets at least once a year to review MRASCo annual accounts and recommend them for approval to the Board; review accounting policies and procedures; recommend the appointment of MRASCo auditors to the Board and review the annual management letter received from the auditors on behalf of the MRASCo Directors.  

 Service Agreement Committee

The Group meets at least once a year to discuss proposed changes to the Services Agreement with Gemserv as and when required.


Internal Financial Controls

The Company has established a system of internal financial control which is designed to provide reasonable, but not absolute assurance that the company‚Äôs assets are safeguarded from misstatement or loss.  The key procedures are:

1              Control environment

There are clear responsibilities and accountabilities within a defined organisational structure.

2              Control procedures

There are comprehensive policies and procedures which cover authorisation, segregation of duties, recording of data and physical security.

3              Information and financial reporting systems

There are planning procedures in place, which include detailed operational budgets for the year ahead.  These budgets are approved by the Board and actual results are monitored regularly in comparison with budgets and forecasts.

This site uses cookies

By using our website, you agree to the use of cookies. Learn more

I understand