UK's Ofgem new chief executive to fill role from March 2014

By Nina Chestney

LONDON (Reuters) - Ofgem has appointed Dermot Nolan as its new chief executive and he will take up the position from March next year, Britain's energy regulator said on Wednesday.

The head of Ofgem's market division, Andrew Wright, has been acting as temporary chief executive since Alistair Buchanan stepped down earlier this year.

Nolan will join Ofgem from the Commission for Energy Regulation in Ireland, where he has been its chairman since 2011.

"Much work is already underway to promote an energy market which is more competitive and works better for consumers. I shall seek to build on these solid foundations laid by Ofgem in tackling the challenges ahead," Nolan said in a statement.

(Reporting by Nina Chestney; editing by Keiron Henderson)