The outgoing boss of Ofgem is set to take on another to energy role at KPMG. When Ofgem chief executive Alistair Buchanan hangs up his hat at the regulator later this year, he will go on to be Chairman of the Big Four accountancy firm’s Power & Utilities practice.

After 10 years at the helm of the Government’s energy watchdog, he will join the firm he trained in as an accountant as a partner on 1 October 2013.

Simon Collins, UK Chairman of KPMG said Mr Buchanan is “a luminary in the energy world”.

He added: “We are seeing the biggest ever shift in energy market fundamentals. Core issues such as mega funding requirements, customer tariffs and the green agenda affect society as a whole. All of the key stakeholders, including government, regulators, investors, consumers and energy companies, need to work together effectively and pragmatically to address these issues.”

In May, Ofgem announced its Head of Markets Andrew Wright will take over as a temporary chief executive.