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Steve Smith quits Ofgem and joins High Street bankSteve Smith, a key member of the senior management team at Ofgem, is leaving the energy regulator. Smith, once touted as a possible chief executive, had held a number of top jobs at the watchdog, most recently as Senior Partner, Local Grids and RPI-X@20 and a member of the Gas and Electricity Markets Authority. He was in charge of the team responsible for the regulation of the monopoly and independent gas and electricity distribution networks. He lead the team reviewing the way Ofgem regulates all of the energy network companies after 20 years of using the RPI-X approach. Smith has held a variety of other roles at Ofgem: Managing Director Networks, Managing Director Markets and Director of Strategy and Trading Arrangements. Prior to joining Ofgem, Smith was a senior consultant in PricewaterhouseCoopers' utilities consulting practice where he worked on the energy, post and transport sectors for regulators, companies and governments in the UK, Eastern Europe and South America. Smith has also worked for American Electric Power's Energy Services in Europe. Steve holds a Masters in Economics and Econometrics and a first degree in Economics from the University of Bristol. UW understands Smith is leaving the regulator for a post with high street bank Lloyds. Source: Utility Week © Faversham House Group Ltd 2010. News articles may be copied or forwarded
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