Mark McAllister was named the government’s favored candidate to be the next Chair of Ofgem, the energy regulator.
This decision comes as the demand for cheaper, cleaner energy is growing and bills soaring. Minister for Energy Consumers and Affordability Amanda Solloway said McAllister, currently Chair of the Office for Nuclear Regulation, will bring a “strong track record” in the industry to the role.
“We will always ensure the energy market is working for families to protect them from sky-high bills, including by working closely with our partners at Ofgem,” said Solloway.
McAllister is no stranger to the energy industry, with 40 years of experience. Prior to becoming Chair of the Office for Nuclear Regulation in April 2019, his career included executive board positions for two of the UK’s most successful independent companies: Monument and LASMO.
Furthermore, he founded and served as CEO for two North Sea start-up businesses: Acorn and Fairfield Energy. In addition to his managerial experience, McAllister served as Chairman of OSPRAG (Oil Spill Prevention and Response Advisory Group), where he was responsible for devising joint responses with the North Sea oil industry, trade unions and government to the Macondo blowout in the Gulf of Mexico.
In addition to his impressive career, he has held a number of non-executive roles in the charitable sector for more than 20 years. Currently, he is Chair of Oasis Charitable Trust, which work to transform communities across the UK with a wide range of services including education and housing.
“Mark McAllister has a strong track record of advising governments and regulators on competition and regulation. His expertise will be vital in the years ahead, as we make sure more households have access to cheaper, cleaner energy,” commented Solloway.
The Chair’s primary responsibility will be to champion the interests of electricity and gas consumers, a goal which McAllister will strive to achieve with the help of the government, who provided nearly £40 billion to cover around half a typical household’s energy bill last winter. Furthermore, he will have a key role in reforming the grid and supporting households in accessing smarter, more flexible energy in order to create a more secure energy system.
The selection process for McAllister’s appointment will be scrutinized by the Energy Security and Net Zero Select Committee, with a pre-appointment hearing soon to follow.
Source: Gov UK