Associate Director, ESP Consulting
(2012 – Present)
Head of Regulation and Strategy, E.ON Central Networks
(2004 – 2011)
- Lead the company’s price control negotiations and the formulation of network tariffs, compliance and policy
- Developed the company’s short term and long term business strategy and priorities in order to drive shareholder and customer value
- Worked with Ofgem in developing the Regulatory Reporting Pack
- Responsible for the compilation of all regulatory and financial information for key stakeholders and shareholders
Head of Regulation, Midlands Electricity plc.
(1997 - 2004)
- Managed the price controls
- Drove the company’s response to 25% revenue cuts in DPCR3 delivering significant reduction in operating costs and overheads
- Maintained compliance with a rapidly changing regulatory framework, including the sale of the company’s retail activities to npower and the implementation of the Utilities Act.
Financial Auditor and Manager, Coopers & Lybrand
(1990 - 1997)
- Provided a range of consultancy services to a portfolio of clients.
- Successfully managed assignments within the energy industry to provide assurance through process design, implementation and review.
- Leading role in audit of UK wholesale electricity market
Education & Qualifications
- Associate of the Institute of Chartered Accountant (1994)
- BSc – Mathematics and Finance, Oxford Brookes University (1990)
Jonathan Ashcroft, an Associate Director of ESP Consulting UK, is a Chartered Accountant with over 14 years’ power sector experience as Head of Regulation and Strategy at E.ON Central Networks, and previously Midlands Electricity. His role focused on strategy for the business and driving shareholder value through the successful negotiation of the price control with Ofgem. This has typically included engagement with a wide spectrum of stakeholders, programme management, financial modelling and benchmarking, regulatory influence and presentation of compelling and robust business plans. In addition, he was also responsible for regulatory compliance and government policy as well as formulation of network tariffs and income collection. Prior to joining the industry in 1997, Jonathan worked at Coopers & Lybrand managing a number of advisory and assurance assignments in the energy industry.
Regulation and Market Reform
Jonathan has advisory experience as well as an in depth knowledge of what it takes to succeed in regulatory negotiations, whilst driving the company’s own strategic priorities and goals. Notable experience includes:
- Successfully led CN and previously Midlands Electricity negotiations with Ofgem through 3 price controls;
- Played a key role in the recent sale of CN by E.ON with a 30%+ premium to RAV, including the issuance of £2bn of bonds;
- Successfully focused Central Networks’ Board, management and employees to deliver clear customer and shareholder measures achieving a minimum of 25% improvement in key indicators over 3 year period;
- Led E.ON’s pan European regulatory forum with the aim of sharing knowledge and best practice to maximise the effectiveness of E.ON’s influence over European Regulators;
- Responsible for CN’s strategic response to RIIO, the latest evolution of Ofgem’s approach to regulating gas and electricity networks. This includes being selected by Ofgem as an industry expert to help shape the RIIO policy;
- Part of the leadership team considering changes to CN required to align its strategic priorities and stakeholder management with RIIO with a view to maximising returns.
- Non-executive director of the Energy Networks Association (ENA) and chair of its Regulation Group for transmission and distribution. This group looked to create consensus on regulatory issues across both electricity and gas to drive regulatory and government policy; and
- Successfully worked with E.ON’s Scandinavian infrastructure business to influence the regulatory framework in Sweden and engage senior managers as to the opportunities this could present.