Andrew Wright, who has led Ofgem’s Markets Division since January 2008 and is a member of the Gas and Electricity Markets Authority, has been appointed interim chief executive of the regulator, effective June 28.

Current chief executive, Alistair Buchanan, steps down from the position on June 27. A permanent replacement will be made following the recruitment, currently under way, of the new Ofgem chair.

“Andrew is a highly experienced and professional leader and I am confident of his ability to guide Ofgem after Alistair’s departure,” commented Ofgem chairman Lord Mogg. “Andrew will be taking charge at an important point as Ofgem’s ground breaking energy market reforms will start to take effect from this summer and we continue to provide important updates on Britain’s security of supply.”

Wright has over 25 years’ experience in the gas and electricity sector, most recently at UBS where he was a senior equity research analyst covering U.K. utilities. Prior to this, he was head of European utilities research at Cazenove & Co and the U.K. electricity and gas analyst at Merrill Lynch. Earlier in his career he worked in the electricity industry during its privatization, spending six years with Manweb, as a consultant at Caminus Energy, and as a research associate in the Energy Research Group at Cambridge University.