David Williams, the former general manager of corporate and strategy, will replace Sue Ortenstone as chief executive, effectively immediately.

However, Williams may not even have time to choose his new screensaver if the tariff decision goes against the company in the next few days. Rumors floating around the industry are that regulator Ken Michael will rule that Epic cannot charge more than 81c per terajoule, well short of the $1/Tj the company needs to meet costs.

An adverse decision will most likely see the company placed into administration by its banking syndicate in order to retrieve $1.85 billion of debt.

Ortenstone's appointment had already been extended by six months because of the delays but clearly she and the company have decided to move on. Ortenstone will remain on the Epic board.