Steve Coomber

Commercial and Regulatory Director at ElecLink at ElecLink
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Contact Information
us****@****om
(386) 825-5501
Location
Kenilworth, England, United Kingdom, UK

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Credentials

  • Fellow of the Institute of Chartered Accountants of England and Wales (FCA)
    Institute of Chartered Accountants in England and Wales

Experience

    • United Kingdom
    • Utilities
    • 1 - 100 Employee
    • Commercial and Regulatory Director at ElecLink
      • Aug 2020 - Present
    • Individual and Family Services
    • 1 - 100 Employee
    • Taking a couple of months out...
      • Jun 2020 - Aug 2020
    • United Kingdom
    • Utilities
    • 1 - 100 Employee
    • Finance Director
      • Aug 2018 - Jun 2020
    • United Kingdom
    • Investment Management
    • Finance Director
      • Jun 2018 - Aug 2018
    • United Kingdom
    • Retail Office Equipment
    • CFO
      • Jun 2017 - May 2018

      My role at Stipenda is financial strategic development across the business and ensuring the implementation and operation of appropriate reporting and financial controls. My role at Stipenda is financial strategic development across the business and ensuring the implementation and operation of appropriate reporting and financial controls.

    • United Kingdom
    • Investment Management
    • Interim Commercial Manager, Carbon Capture and Storage, National Grid, plc
      • Feb 2016 - Jan 2017

      In this interim management role for FTSE 100 National Grid plc, my role was to wind down this £15bn turnover carbon capture scheme after the UK Government withdrew £1bn in backing. Selected Achievements • Solving numerous issues caused by agreements with land owners prior to the cancellation of the project, settling claims against National Grid resulting from this decision. • Negotiating the disposal of the projected storage capacity in the North Sea. • Closing out several grants, including producing a 220 page report for the European Commission, and dealing with a similar grant from the Department for Energy & Climate Change. Show less

    • Interim Commercial and Operations Director, BritNed Development Limited
      • 2015 - 2016

      Having chosen to leave BritNed, I was subsequently rehired on an interim basis to manage both the Commercial and Operational teams. This included managing an engineering team responsible for managing cable maintenance and tackling supply and reliability issues. Selected Achievements • Successfully led the renegotiation of the cable repair contract with ABB, focused on reducing the business’ running costs and commercial risk. • Managed a successful handover to a new, permanent Commercial Director. • Developed the capacity of the staff of the company’s Dutch office, encouraging them to be true business partners not narrow account managers, and fostering a more strategic approach to business development. Show less

    • Commercial Director, BritNed Development Limited
      • 2013 - 2015

      BritNed built and now runs a 260km electricity interconnector cable running from the Netherlands to the UK. This role was a promotion from my previous role managing the business’ finances during its construction and initial operating phase (see below). My focus was on growing the business, which I successfully did. Selected Achievements• Increasing sales from €67m in 2013 to €200m during 2015, with about 30 clients from across Europe. • Successfully growing sales by implementing a move from short-term to annual products, combining earlier collection of revenue for BritNed with guaranteed capacity for clients. • Influencing regulators in the UK, the Netherlands and the EU, advocating BritNed’s interests.• Growing the commercial team to meet the needs of an expanding business, hiring new staff and training them to deliver developing systems and cope with regulatory change. • Developing the future-proofing of the commercial strategy, managing risk and laying the foundations for the business’ ongoing, sustainable success. Show less

    • Chief Financial Officer, BritNed Development Limited
      • 2008 - 2013

      The construction phase, the finance of which I managed, cost €600m. I also led its finances and its UK and Netherlands based finance teams while it grew to operate profitably. It is a joint venture (JV) between the UK company National Grid plc and TenneT, its Dutch equivalent. Selected Achievements• Successfully managed the construction programme’s finances during the construction phase (2008-2011), and managed relations between ABB and Siemens to foster more productive collaboration. • Delivered the programme below cost and under budget, managing relationships with ABB, Siemens and other contractors to spend only €550m of the projected €579m. • Secured business revenues rising from €16m in 2011 to €67m in 2013.• Negotiated from €70m down to €10m a claim for additional fees lodged by ABB resulting from the challenges caused by unforeseen seabed conditions. • Managed relationships with the Main Boards of both National Grid and TenneT throughout the construction phase, reporting on progress, ensuring no surprises, to secure 20 separate drawdowns of the budget by proving milestones were being met. • Created the financial systems for this start-up business, including a SAGE implementation, the completion of management and annual accounts and the access rules, credit risk rules, billing and other polices for the running of the business once the transmitter went live. • Procured the software for the open auction process selling the completed pipeline’s capacity, negotiating with the final two potential suppliers to secure the best price for BritNed.• Designed the commercial model and customer proposition, then meeting electricity generators, banks and other suppliers to sell capacity. Show less

    • United Kingdom
    • Utilities
    • 700 & Above Employee
    • Financial Controller UK Shared Services
      • 2006 - 2008
    • United Kingdom
    • Utilities
    • 100 - 200 Employee
    • Chief Financial Officer
      • 2003 - 2006

      • Established the financial processes, governance, controls, reporting and the Audit Committee for the xoserve start-up, a company which meters and bills commercial gas clients on behalf of suppliers • Established the financial processes, governance, controls, reporting and the Audit Committee for the xoserve start-up, a company which meters and bills commercial gas clients on behalf of suppliers

    • Interim Finance Manager, Project Blackwater
      • 2003 - 2003

    • Commercial and Finance Manager, National Grid Inter-connectors USA
      • 2001 - 2003

      • Solved issues caused by a declining market for the New England – Québec electricity interconnector, apportioning costs among its US clients as part of the regional transmission system.• Project managed a start-up in Ohio USA for National Grid, establishing the possibility for its market entry into electricity transmission in the area.

    • Group Business Planning and Analysis Manager
      • 1998 - 2001

    • Latvia
    • Construction
    • 1 - 100 Employee
    • Business Planning Executive
      • 1994 - 1998

Education

  • Bishopshalt, Hillingdon
  • Heriot-Watt University
    BA, Accountancy and Computer Science

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