The government has announced that Mark McAllister will succeed Martin Cave as the chair of energy regulator Ofgem.
McAllister, who is currently chair of the Office for Nuclear Regulation (ONR), has been unveiled as the government’s preferred candidate and his appointment will be scrutinised by the energy security and net zero select committee at a forthcoming pre-appointment hearing.
If confirmed, he is expected to take up post in November.
McAllister, an engineer by trade, took on the role of chair of the ONR in April 2019 and also serves on the management committee of the Public Chairs Forum.
He has had a 40-year executive career in the upstream energy industry and was on the executive board of Monument and LASMO. He also founded and served as chief executive of two North Sea start-up businesses, Acorn and Fairfield Energy, and was most recently chief executive of PA Resources, listed on the Scandinavian NASDAQ.
McAllister has additionally served as chair of OSPRAG (Oil Spill Prevention and Response Advisory Group) which formulated the joint response of the North Sea oil industry, trade unions and government to the Macondo blowout in the Gulf of Mexico.
Over the last two decades the incoming Ofgem chair has held a number of non-executive roles in the charitable sector and is currently chair of Oasis Charitable Trust.
Minister for energy consumers and affordability, Amanda Solloway, said: “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.
“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.
“I would also like to extend my warm thanks to Martin Cave for all of his work as Ofgem chair since 2018.”