“You have buildings standing in water for what could be up to 80 days, which is the time period they're thinking of before they can get the flood water out. What you're now talking about is constructive write-off for virtually all the buildings.”
“The market has already made progress in many areas of the reform program. The challenge now is to build on this momentum and deliver the real changes needed to reform the market. This will not only ensure that we meet the FSA contract certainty deadline, but will also enable market firms to realize the huge process and service benefits of a modern, efficient market.”
“We are on the right path, but we are not yet consistently at the levels either expected by customers or required by the regulator. The MRG will continue to play a crucial role in supporting and driving the market to achieve this. I am under no illusion that the task ahead of us remains enormous but I take over the chair of the MRG with a passionate belief in the need for reform.”
