Annex 1: Candidate's application and CV
Letter
of application
13th January 2013
Dear Sirs
Chair, Gas and Electricity Markets Authority
I would like to apply for the position of Chair of
the Gas and Electricity Markets Authority
(GEMA).
I have been a specialist in the Energy sector throughout
my career: initially as an investment analyst and corporate financier,
more recently as a regulator, and currently as Chairman of an
oil exploration company. I became involved with the energy utilities
as an analyst when my firm, James Capel & Co., was appointed
as joint broker to the government for the privatisation of British
Gas in 1986. Following that issue we were appointed as lead broker
and broking adviser to the government for the privatisation of
the electricity sector. I spent three years advising on the restructuring
of the industry, supervised the production of investment research
and led our marketing activities to UK institutional investors
on the privatisation issues.
Following the privatisations I moved into corporate
finance to establish a specialist sector team for HSBC and acted
as an adviser to a number of energy and utility companies including
Scottish Power and National Grid. I also continued to advise governments
on privatisation issues, including the UK government on British
Nuclear Fuels Limited as well as the governments of South Africa,
India and Russia. My work in the sector gave me a thorough understanding
of the economic nature of the sector as well as experience of
the operation of boards of a range of companies including FTSE
100 members.
In 2003 I moved to Ofgem as Managing Director of
the Networks Division and as an Executive Member of GEMA. In the
subsequent 5 years I was responsible for a full set of price control
reviews for the energy network companies and for the authorisation
of changes to the various codes and agreements governing access
to the networks. My team led an investigation of anti-competitive
activities in the electricity connections market and we were required
to defend a decision on a gas transmission network code modification
at the Competition Commission. We also designed and implemented
a new framework of regulation for the gas distribution sector
to allow National Grid to sell four of its regional businesses.
As a member of GEMA and of the Ofgem Executive
Committee I was also involved in the development
of Ofgem's strategy across the full range of its regulatory and
competition activities. In all these roles, my commercial experience
of the sector allowed me to bring a different perspective to bear
on the issues and to maintain effective working relations with
the regulated companies.
I retired from Ofgem at the end of 2007 and have
since been able to widen my area of expertise in the regulated
industries. I was a member of a panel of experts advising the
Department for Transport on the economic regulation of airports
and was also asked, as a result of my expertise in financial markets,
to advise specifically on the potential implications of the panel's
advice for the financing arrangements of BAA, the main operator
of regulated airports. Following the conclusion of this work I
applied for a position as a non-executive member of the Civil
Aviation Authority and was appointed to this role in November
2009.
In 2010 I was invited to lead a review, on behalf
of the Secretary of State for the Environment and Welsh Ministers,
of Ofwat and of the arrangements for consumer representation in
the water sector. The review, which was published in 2011, made
a number of recommendations designed to improve the relationship
between Ofwat and other stakeholders and to reduce the burden
of regulation on the water companies.
My experience of the aviation and water sectors has
given me a much wider view of the process of regulation and, together
with my longstanding commercial experience of the energy sector,
has, I believe, put me in an excellent position to take on the
role of Chair of GEMA.
I attach a copy of my curriculum vitae and I have
completed the Political Activity and Equal Opportunities Monitoring
forms on-line. Please let me know if you need anything further
from me.
Curriculum Vitae
CURRENT ACTIVITIES
Civil Aviation Authority (CAA).
Non-executive director and member of the audit committee since
2009. In 2012 chaired an ad hoc board committee looking at the
CAA's regulatory relationship with NATS, the UK provider of air
traffic services.
The CAA is the safety and economic regulator for the UK aviation
industry, with responsibility for aviation safety and licensing;
airspace policy; economic regulation of air traffic services and
some of the larger airports; and the operation of the ATOL consumer
protection scheme.
Pitkin Petroleum plc, (Pitkin). Non-executive director since 2009
and chairman of the company since 2012. Chair of the Audit Committee
from 2009 to 2012.
Pitkin is an oil exploration company with operations in South
East Asia and South America
Central School of Ballet. Member of the Board of Governors since
2009.
Central School of Ballet is a vocational ballet school offering
degree level courses in Professional Dance and Performance.
PREVIOUS CAREER
2010 - 2013: Non-executive
director of Halite Energy a private company which
is seeking to develop a gas storage project in North West England.
2009 - 2013: Member
of the Council of Management of the Regulatory Policy Institute,
an independent charitable organisation dedicated to the study
of regulation and competition policy.
2010 - 2011: Leader
of a review of Ofwat and consumer representation in the water
sector on behalf of DEFRA and the Welsh Assembly Government.
The review made a number of recommendations intended to improve
the relationships between Ofwat and other stakeholders, to reduce
the burden of regulation in the sector and to encourage innovation.
It also recommended that the Consumer Council for Water should
continue to act as the representative for consumers in the sector.
2009 - 2010: Member
of the advisory panel for Ofgem's "Project Discovery"
a review of the medium term outlook for energy markets and UK
energy security.
2008 - 2009: Member
of the Panel of Experts advising the UK Department for Transport
on its review of airport regulation. Recommendations of
the review were incorporated in the development of the Civil Aviation
Act, which received Royal assent in December 2012.
2008: Advice to The
Crown Estate on its strategy for supporting the development
of offshore renewable generation.
2003 - 2007 Executive
Member of the Gas & Electricity Markets Authority (GEMA) and
Managing Director, Networks of Ofgem
The Networks division was responsible for regulation of the
monopoly electricity and gas transmission and distribution businesses
in Great Britain, including price control reviews, price control
compliance and authorisation of changes to various industry codes
and agreements governing access to the networks.
1982 - 2003 HSBC (initially
James Capel & Co. - acquired by HSBC in 1986)
1994 - 2003:
Head of the Energy & Utilities corporate finance
team in HSBC Investment Bank.
1992 - 1994: Head of UK Equity Research for HSBC James Capel.
1982 - 1992: Head of Oil & Gas sector investment research
Involved in the privatisation of British Gas in 1986 and the electricity
industry in England & Wales from 1988 to 1991
1988 - 1992: Member
of the Oil Industry Accounting Committee, established by
the Accounting Standards Board to review and develop guidance
on accounting issues specific to the oil & gas sector.
1973 - 1982: Williams de Broe Hill Chaplin
& Co.: investment analyst, specialising
in the oil & gas sector.
PERSONAL DETAILS
Born 4th May 1952
British
EDUCATION:
1963 - 70: Wellfield Grammar School, Wingate,
Co. Durham
1970 - 73: St. John's College, Cambridge, - MA
Natural Sciences
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