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25/03/15: Electricity North West announces new CFO

Electricity North West, the company that owns and maintains the regional power network, has announced the appointment of Andrew Dench as its new chief financial officer. Electricity North West announces new CFO Andrew Dench

Andrew joined the electricity network operator from his role as head of corporate finance at the London Stock Exchange Group before which he was CFO and deputy CEO at Veolia Water UK, Ireland and Northern Europe where he was also managing director of group services.

Electricity North West is funded through long-term investment that is recouped over time through North West customers’ energy bills, with around 20% of a typical domestic electricity bill going to the company to operate the network.

Andrew said: “I’m delighted that I’ve joined the company at such an important time for the business, the region and the industry.

“From next month Electricity North West is reducing its part of North West customers’ bills by around £23 a year – the biggest reduction by any network in the country.

“While we’ll be receiving on average of £50m less each year from customers’ bills, we’re still investing £1.8bn in the region’s electricity infrastructure over the next eight years so it’s a fantastic time to join.”

Chief executive, Steve Johnson, added: “As electricity usage grows we need to continue to invest in the network that supplies the homes and businesses in the region while keeping prices low.

“Andrew is a great asset to our executive team as we continue to offer a great value, reliable service to the North West.”

Prior to joining Veolia Water, Andrew spent more than 15 years working in corporate finance with Morgan Stanley and Credit Suisse and has also served as a board director at Affinity Water.

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.

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