The Australian Energy Regulator (AER) has farewelled its CEO.

The regulator has marked its last days under chief executive officer Michelle Groves.

AER Chair Clare Savage said, “the AER is the organisation it is today because of fifteen incredible years of Michelle's leadership. She leaves the energy market and Australian consumers better off and will be sorely missed by her staff and peers”.

“I'm grateful to have had Michelle's support in the first eight months of my role. She has provided vast amounts of wisdom and enormous clarity, and I am very thankful for that.”

Ms Groves has handed the AER reins over to Dr Elizabeth (Liz) Develin.

“We formally welcome Liz to the role of CEO. Liz has significant senior leadership experience in complex governance environments and has had a broad range of experience within the public sector,” Ms Savage said.

“Please join us in welcoming Liz to the AER. We are very much looking forward to working with you.”