Monday 12 August 2019

New chair to lead key electricity sector delivery bodies

Regina Finn has been appointed as the Chair of the Low Carbon Contracts Company (LCCC) and the Electricity Settlements Company (ESC).

The LCCC and ESC are government companies that were established in 2014 to help deliver the Contracts for Difference (CfD) and the Capacity Market schemes.

They are designed to incentivise the investment required in the UK's electricity infrastructure to deliver clean and reliable power supplies, whilst minimising costs to customers.

LCCC’s portfolio of low carbon contracts is valued at around £66 billion, with operational projects already meeting 4% of total UK electricity demand.

Ms Finn has held a number of board positions, including Chair of Mutual Energy and Non-Executive Director with the Channel Islands Competition and Regulation Authority and Irish Water.

She was the first Chief Executive of Ofwat, the water regulator for England and Wales, headed up the Commission for Energy Regulation in Ireland as well as the Office of Utility Regulation in the Channel Islands.

Ms Finn said: “I am delighted to be joining these companies at a time when the energy sector is playing such a critical role in tackling climate change. LCCC and ESC play a vital role in supporting the sector to deliver on environmental, sustainability and affordability goals by enabling essential new investment in our energy infrastructure under the Contracts for Difference and Capacity Market schemes.”