He joins at a high-profile time for the gas and electricity regulator, with spiralling prices making regular headlines.
Reporting to associate director of communications and Scotland Charles Gallagher, Loveday will oversee a team of six, including a three-strong press team.
Loveday left Utility Week last week after six years on the trade magazine's news desk. He takes over from Richard Hunt, who left Ofgem in June. Now acting head of comms at The Pensions Regulator, Hunt left after more than five years.
Loveday told PRWeek: ‘I am 50 years old and I decided I wanted to do something more stable, so when this position came up it seemed only natural to go for it.'
Ofgem is currently urging operators to invest £4bn in the next five years to help meet rising demand. The money will be spent on enabling the gas network to take more imports, and linking renewable energy sources, such as wind farms, to the national grid.
Ofgem MD of corporate affairs is Sarah Harrison.
Hunt will stay at The Pensions Regulator until a permanent appointment is made, according to a spokeswoman at the group.
Former head of communications at The Pensions Regulator Nick Edmans left after six years to take a career break.