Andy Agg, the interim chief financial officer of UK infrastructure operator National Grid will take on the position on a permanent basis from next year.

Mr Agg has held the role on an interim basis since his predecessor Andrew Bonfield left in July to take up a position as CFO of US construction equipment manufacturer Caterpillar.

“Andy has done a great job since stepping into the role on an interim basis in July and I am personally delighted that he has now been formally appointed to the role,” said John Pettigrew, National Grid chief executive.

“With his broad experience in operational and corporate finance roles and deep knowledge of National Grid, Andy is well placed to help steer the company through the next phase of its evolution,” he added.

Mr Agg takes over the role as the FTSE 100 company engages in a consultation process with the energy regulator Ofgem on RIIO-2, a new set of price controls which will determine how much UK network operators can charge customers from 2021.

He previously held roles as UK CFO and group tax and treasury director at National Grid. His new appointment will take effect from 1 January 2019.

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