07:13 AM EDT, 04/03/2024 (MT Newswires) -- CGI (GIB-A.TO), an independent IT and business consulting services firm, on Wednesday said it has been selected by Market Operator Services Ltd (MOSL), the operator of the non-household water retail market in England, to continue management of their core platforms -- the Central Market Operating System (CMOS) and the centralized bilateral transactions 'hub' -- which all trading parties use to initiate and manage bilateral transactions. The contract is valued at $18.7 million.

According to the statement, this latest collaboration between CGI and MOSL will involve implementing new capabilities to support initiatives such as "significantly increasing the use of smart meters, which will help address sustainability challenges such as water leakage and the need to reduce its consumption".

The CMOS platform supports the competitive water market operations, including the collection and maintenance of essential data, facilitating customers' ability to change suppliers, and ensuring smooth settlement and payments between retailers and wholesalers. The platform enables MOSL to provide more choice for business customers.