Ofgem chairman David Gray said: “We are delighted to announce this appointment following an open competition which saw a strong field of candidates. Dermot Nolan joins us at a challenging time for the energy industry, and for our work in regulating the sector to protect the interests of consumers, present and future. Dermot’s economic background and wide experience of regulation and competition matters will equip him well for his role as our next chief executive. We look forward to working closely with him and offer our warm congratulations.”
Nolan said: ”Energy regulation has never been more important. I am pleased, proud, and looking forward to leading Ofgem as its chief executive. Ofgem has a pivotal role to play in protecting consumers’ interests, in promoting good supplier behaviour and in bearing down on costs. Much work is already underway to promote an energy market which is more competitive and works better for consumers. I shall seek to build on these solid foundations laid by Ofgem in tackling the challenges ahead.”
Nolan replaces Alistair Buchanan, who stood down this summer.