Ofgem’s board has extended Jonathan Brearley’s term as chief executive for a further five years, to 31 January 2030.
Mark McAllister, chair of Ofgem, said: “Jonathan has led Ofgem through unprecedented challenges over the past five years: the fallout from COVID-19, energy market turbulence and the price shock following Putin’s invasion of Ukraine.
“He and his senior team have shown great dedication in stepping up to meet these challenges, whilst establishing the foundations required to create a clean power electricity system to get us to net zero by 2050 – the biggest ever transformation of the energy industry.
“This has involved developing and executing vital changes in how we plan, build, and supervise the roll out of new energy infrastructure, at a pace not seen for decades, while also reshaping a retail market that can be innovative and dynamic for customers.”
Brearley (pictured) said: “It has been a privilege to lead Ofgem over the last five years – and I’m excited by the challenge of the next five.
“Ofgem plays a pivotal role in delivering a low carbon future for the country and I am both committed and motivated to lead us through this, alongside a strong board and leadership team.
“During my tenure and since the energy crisis, Ofgem has stabilised the supplier market and put in place a stronger financial regime for the sector, all while strengthening our powers to protect consumers.
“As the energy landscape evolves, we need to consider what our role as the regulator looks like in both the near and distant future.
“Ministers are looking at how to strengthen Ofgem further, which is crucial as we look at fundamental changes to how the energy sector works in the UK.
“The government’s 2030 target for a clean electricity grid is tough but achievable, if everyone plays their part.
“We have plans in place to get there at the lowest possible cost for consumers and businesses, while unlocking the private investment needed to expand the grid and generate more clean power.”
The Energy Secretary has extended Brearley’s appointment to Ofgem’s board, the Gas & Electricity Markets Authority (GEMA) while he is the CEO.
Brearley continues as Ofgem’s accounting officer.
The Government has also extended the terms of two non-executive directors on GEMA, Myriam Madden to 31 March 2025 and Barry Panayi to 16 March 2027.