Ofgem appoints Dermot Nolan as Chief Executive
Press release
Publication date
Ofgem has appointed Dermot Nolan as its next Chief Executive. Dermot will take up his role in March 2014. He joins Ofgem from the Commission for Energy Regulation in Ireland where he has been a Commissioner since 2008 and its Chair since May 2011.
Commenting on the appointment, 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.”
Mr 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.”
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Notes to editors:
1. Dermot was a Commissioner at the Commission for Energy Regulation (CER) in Ireland from May 2008 and its Chair since May 2011. CER is responsible for energy and energy safety regulation, and the protection of consumers’ interests. CER also works closely with its Northern Ireland counterpart in the joint regulation of the Single Electricity Market.
2. Mr Nolan trained as an economist. He completed his Masters and Doctorate degrees at Yale University and then taught at the University of London. He was the Manager of the Mergers Division in the Irish Competition Authority, and has worked on competition matters in professional services. He became Senior Economic Advisor and then Director of the Retail Division at CER.
3. Ofgem is the Office of the Gas and Electricity Markets, which supports the Gas and Electricity Markets Authority, the regulator of the gas and electricity industries in Great Britain. The Authority’s functions are set out mainly in the Gas Act 1986, the Electricity Act 1989, the Competition Act 1998 and the Utilities Act 2000. In this note, the functions of the Authority under all the relevant Acts are, for simplicity, described as the functions of Ofgem.
For further information contact:
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Felicity Beverley: 0207 901 3858
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