Mark McAllister has been named by the government as the preferred candidate to become the next Chair of Ofgem.

Mr McAllister has forty years of experience in the energy industry – his current role is Chair of the Office for Nuclear Regulation (ONR).

Minister for Energy Consumers and Affordability Amanda Solloway said: “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.”

Mark McAllister’s selection is expected to be scrutinised by the Energy Security and Net Zero Select Committee.

Should his confirmation proceed as anticipated, Mark McAllister is set to assume the position in November.

Professor Martin Cave, the current Ofgem’s Chair, is slated to complete his five-year term this autumn.