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Mark McAllister confirmed as new Ofgem Chair

Mark McAllister confirmed as new Ofgem Chair

 

  • With over 40 years' experience in the energy industry, Mark McAllister will boost the regulator’s work to build an energy market fit for the future
  • Appointment follows endorsement by the Energy Security & Net Zero Select Committee
  • Mark McAllister will succeed Martin Cave on November 6

Mark McAllister is today (2 November 2023) confirmed as the next Chair of Ofgem - strengthening the government’s work to build a more secure and affordable energy system.

The incoming Chair will take up the role at an important time for regulator Ofgem as they work to reform the energy market to best serve consumers.

Responsible for protecting consumers from high energy bills, restoring confidence and resilience in the retail market, and supporting progress towards net zero, Mr McAllister’s leadership will help shape Ofgem’s work in years ahead.

He will also work closely with the government to support more households to move towards cleaner, cheaper energy generated in the UK.

The Energy Security and Net Zero (ESNZ) Select Committee approved the appointment, following a hearing in October.

Energy Security Secretary Claire Coutinho said:

“I am pleased Mark McAllister is set to take up the position of Ofgem Chair, bringing over forty years of outstanding experience in the energy industry to the role.

“By working together with Ofgem, we will continue to ensure the energy market works for consumers, delivering lower bills and cleaner energy – with prices already down 55 per cent since their peak.”

Incoming Chair of Ofgem Mark McAllister said:

“Energy prices, security of supply and decarbonisation of the energy system are some of the most important challenges facing the UK today and which Ofgem plays a key role in addressing.

“I am looking forward to working with the new Board, management and entire Ofgem team to protect energy consumers and to help realise a net zero energy system through both our regulatory and delivery responsibilities.

“I am keen to engage with all stakeholders, including industry, consumer groups and charities to find the best solutions to the challenges we face together.”

The government is continuing to provide targeted support this winter, including £150 off energy bills for over three million households through the Warm Home Discount, alongside Winter Fuel and Cold Weather payments.

This comes on top of £900 cost of living support for those in need, as well as nearly £40 billion to cover around half a typical household’s energy bill last winter.

Working in conjunction with the Ofgem price cap, the government’s Energy Price Guarantee also remains in place until March 2024 to help safeguard families from high costs.

Mr McAllister will take up his role on November 6, 2023.

Read the latest issue of the OGV Energy magazine HERE

Published: 02-11-2023

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