Chairman of the Australian Energy Market Commission, Mr John Pierce, today announced that the organisation’s Senior Director Strategy and Economic Analysis, Mr Paul Smith, will be appointed Chief Executive with effect from today.

“Since he joined us in 2010 Paul has played an important role in strengthening the AEMC’s economic analysis capabilities as a valued member of our management team.

“He has increased our capacity to address the intersection of Australia’s energy markets with broader policy settings; and introduced extensive stakeholder consultation to build consensus on priorities for market development which articulates the strategic focus for AEMC’s work program,” Mr Pierce said.

Paul succeeds Steven Graham who announced his retirement in June.

Mr Pierce said Paul’s appointment followed an extensive recruitment process which attracted strong interest from candidates both in Australia and internationally. “Paul’s wide industry and regulatory experience will greatly benefit the AEMC as it continues to effectively deliver against its statutory role as rule maker and provide expert advice to governments.

Prior to his appointment to the AEMC Mr Smith worked as a regulatory and competition economist focused on the European energy sector for 14 years. He joined the AEMC from the UK-based consultancy, Cambridge Economic Policy Associates and prior to that Paul worked at the UK energy regulator, Ofgem. He holds a degree in Economics and Politics from Bristol University.

“On behalf of the other Commissioners, Brian Spalding and Neville Henderson, I would like to sincerely thank Chris Spangaro, Senior Director, Wholesale, Environment and Transmission, for performing the interim Chief Executive role,” Mr Pierce said.

For information contact:

AEMC Chairman, John Pierce (02) 8296 7800

Media: Communication Manager, Prudence Anderson 0404 821 935 or (02) 8296 7817