David Gray has been named as the preferred candidate to become the next Chair of the Gas and Electricity Markets Authority (GEMA). This follows a selection process led by Energy Secretary Edward Davey.
The proposed appointment of Mr Gray will now be subject to scrutiny by the UK Parliament’s Energy and Climate Change Select Committee. Subject to Edward Davey’s consideration of the Committee’s views, Mr Gray will take over from the current Chair Lord Mogg when he steps down at the end of September 2013.
The Gas and Electricity Markets Authority provides strategic direction to Ofgem whose role is to regulate the gas and electricity industries in Great Britain.
Edward Davey said:
“I am delighted to put forward David Gray as our preferred candidate to take on the role of Chair of the Gas and Electricity Markets Authority.
“The energy sector will face a number of significant challenges in the coming years, with the need to secure major investment in new infrastructure while keeping bills down for consumers. Ofgem has a key role to play in meeting these challenges and ensuring the interests of consumers are protected.
“David has an excellent track record in economic regulation, including a previous role on Ofgem’s senior team, and also has extensive and invaluable experience of the energy sector. David will bring strong judgement and insight to the role and I look forward to working closely with him.
“I would like to thank outgoing Chair Lord Mogg for the strong leadership he has given to Ofgem throughout the ten years at the helm. The UK’s already strong reputation for stable, independent regulation was enhanced still further under Lord Mogg’s leadership”.
Preferred candidate, David Gray, said:
“I am pleased to be asked to become the next Chair of Ofgem. The next few years will be crucial for energy regulation and I very much look forward to working with Ofgem’s excellent staff to help it promote quality and value for all consumers while continuing to play a full role in helping to build a low carbon energy sector and maintaining security of supply.”
David Gray will take up his five year appointment on 1 October 2013, subject to approval.
Notes to Editors.
- David Gray will succeed Lord John Mogg as Chair of the Gas and Electricity Markets Authority when the latter steps down at the end of his second term in September. The Chair will lead GEMA which provides strategic direction to Ofgem, the energy regulator.
- The Chair will be paid £162,837 per annum for a time commitment of 3 days per week.
- David Gray spent 30 years working in financial markets, mainly with HSBC, and has extensive experience of the energy sector including advisory roles on the initial privatisations of British Gas and the electricity sector. From 2003 to 2007 he was Managing Director, Networks at Ofgem and an executive member of the Authority. After leaving Ofgem he was a member of a panel advising the Department for Transport on the economic regulation of airports and subsequently led a review of Ofwat on behalf of DEFRA and the Welsh Assembly Government. He is also currently a member of the Civil Aviation Authority.
- The appointment was made on merit in accordance with the requirements set down in the Commissioner for Public Appointments Code of Practice. Political affiliation plays no part in the selection process, however, in accordance with the original Nolan recommendations, there is a requirement for appointees’ political activity (if any declared) to be made public. David Gray has not declared any political activity.