Drew Stevenson new Head of PwC’s Energy practice

Big Four professional services firm PwC has appointed a new energy sector lead for the UK. Succeeding outgoing Alan McCrae, Drew Stevenson will be promoted to the role, having already spent three decades of his career with the firm.

The UK’s energy and utilities market is in a state of flux at present. Thanks to new disruptors improving the competition of the market, even the UK’s largest energy suppliers have seen hundreds of thousands of empowered customers go elsewhere in the last year. Amid this rapidly shifting environment, demand has spike for consulting firms which can help energy firms navigate the changing market space.

Against this backdrop, international advisory and audit firm PwC has announced the appointment of a new energy lead for its UK operations. Drew Stevenson will succeed Alan McCrae, the current UK and Central Cluster (EMEA) Energy Utilities and Mining tax practice lead at PwC. The latter stands down from the role having been with PwC since 2009, when he joined from a similar position at Big Four rival EY.

Stevenson, a company veteran of some 30 years, will now take up the job based in London, while also working in Aberdeen. He has held a number of related roles at PwC in that time, and in 2014, he took on the role of UK Energy Utilities Mining and Infrastructure (EUMI) Transaction Services leader, guiding a 90-strong team.

Commenting on his latest challenge, Stevenson said, “I’m delighted to be leading our energy business at such an important time for the industry. With our Energy Centres of Excellence in Aberdeen and London, we are well positioned to help deliver change to an industry of vital importance to the UK, as operators transform and reposition their businesses. It is particularly exciting to take on this role at a time of huge technological change for the industry, with the likes of cyber security, data analytics and the use of drones becoming more prevalent.”

The news comes as PwC launches its latest viewpoint on the sector, "The Energy Transition and the Implications for M&A", which projects greater deal fluidity in a period of uncertainty and rapid change. According to the study, it is critical for energy firms to have a resilient deal making capability in place to flex their organizations according to the ebbs and flows of modern business.