Hydro Tasmania has named Steve Davy as the new CEO of the company.

Davy, who was previously Hydro Tasmania’s Chief Commercial Officer and has been with the business since 2005, will take up the CEO position immediately having been acting in the role since 30 June.

Chairman Dr David Crean said Davy has played a key role in the transition of the business into the National Electricity Market.

“As the head of our Commercial business, Steve has been at the forefront of Hydro Tasmania’s shift to becoming an integrated energy business that enhances the value of our renewable energy while seeing the benefits returning to the State," said Crean.

"He has overseen our commercial operations that include supporting mainland retailing, contract and spot trading, major customer negotiations, supplier arrangements and a range of operational activities."

Davy is currently Chairman of Hydro Tasmania’s mainland retail business Momentum Energy, and has previously served as Chair of the Australia Financial Markets Association Environmental Products Committee. He is currently the representative for Generators on the National Electricity Market’s Reliability Panel.

Davy replaces Roy Adair who left the business on 30 June.