Buchanan will take up the role as part of a planned Board succession following the completion of Electricity North West’s strategic review in December 2019, which was successfully overseen by current chairman Dr John Roberts CBE.
Roberts, who had previously been Chief Executive of Manweb and United Utilities, leaves Electricity North West following a strong performance during his six-year tenure as chairman.
Buchanan has a wealth of knowledge and experience in the energy industry, including 10 years as chief executive of Ofgem, the gas and electricity markets regulator. In 2013 he joined KPMG as Partner and UK chairman of power & utilities, returning to the firm where he trained as a chartered accountant.
During his career Buchanan became an award-winning energy sector analyst and head of research for banks in New York and London. He joined Electricity North West as an independent non-executive director in 2018 and will take up his position as chair in October.
Electricity North West chief executive, Peter Emery, said: “I’m delighted to announce that Alistair is to be our new chairman and I thank John Roberts for his commitment to the role over the past six years. During John’s chairmanship, we have seen significantly improved levels of both reliability and customer service, and the launch of the organisation’s flagship ‘Leading the North West to zero carbon’ strategy.”
“We invest around a million pounds a day in the North West and are at a critical time as we work to deliver a reliable, sustainable, yet affordable network for people and businesses across the region. We’re committed to reaching net zero by 2038, as well as playing a leading role to help secure the low carbon transition.
“As part of this journey, we expect peak demand to double in the next 18 years through the use of electric cars, which will require a further acceleration in our investment programme. Alistair’s experience is second to none and will be invaluable as we chart our course to meet this challenging outlook.”
Alistair Buchanan, said: “The pandemic has proven just how much we all depend on electricity for our schools, hospitals and to allow millions to work from home. Electricity North West plays a key role in society, in reaching net zero and in the green recovery through its investment and I want to see them go from strength to strength.”
Electricity North West connects 2.4 million properties and more than 5 million people in the region to the National Grid from Macclesfield in the south to Carlisle in the north.
It is currently carrying out its biggest ever engagement programme ahead of submitting its business plan for 2023-2028 to regulator Ofgem next year.
Alistair Buchanan will take up his post on 3 October.
