Former oil executive, Mark McAllister has been named the government’s preferred option to become the next Ofgem chair.
The role involves working closely with the government to help champion the interests of electricity and gas consumers.
McAllister has previously founded and acted as the CEO of two North Sea start-up businesses, Acorn and Fairfield Energy.
He has previously served as the chairman of OSPRAG (Oil Spill Prevention and Response Advisory Group) which helped to formulate the joint response of the North Sea oil industry trade unions and government to the Macondo blowout in the Gulf of Mexico.
He has also worked for Chinese shipping company Shandong Twin Marine Limited and also previously held roles at British Gas and ConocoPhillips, according to his LinkedIn page.
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“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 energy consumers and affordability minister Amanda Solloway.
“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.”
The news comes after the Ofgem board has faced criticism over its handling of the UK energy crisis, the prepayment metre scandal and for passing the cost on to taxpayers.
The Ukraine war has had a hefty impact on the energy sector with the Energy and Climate Intelligence Unit having estimated that high gas prices since the invasion of Ukraine had extra costs that amount to over £1,000 per UK adult one year after the war.
The Prime Minister Rishi Sunak has also been criticised for expanding North Sea oil and gas drilling, in what he has described as an effort to stem the impact of the crisis.
