Regulatory Economist

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Organisation
Severn Trent Water
Locations

Coventry, United Kingdom

Application Deadline
Salary
£50,000 - £65,000

About us..

Severn Trent PLC is a FTSE 100 company and one of the largest of the 10 regulated water and wastewater companies in England and Wales. We are a forward-thinking company committed to improving water and wastewater services for our customers, achieving net zero emissions by 2030 and most recently becoming the official Nature and Carbon Neutral Supporter of the Commonwealth Games 2022.

A unique feature of our regulated businesses, Severn Trent and Hafren Dyfrdwy, is that they are subject to 5-year price controls set by Ofwat, the economic regulator. The price controls are a critical feature of the water sector because they define the revenue we can recover from customers, our target service levels and the incentive framework to encourage us to deliver even better services for customers.

At Severn Trent we are building towards our next business plan submission to Ofwat in a strong position. We secured fast-track status in the last price review, PR19. We have just submitted the largest package of investment proposals of any water company to Defra and Ofwat to support the country’s recovery from the Covid-19 pandemic. And we recently announced sector-leading performance on our service delivery to the market, reflecting how well we deliver for our customers and the environment.

The successful candidate will be joining our welcoming and friendly team at an exciting time as we focus on updating our long-term strategy and addressing the challenges of the future, notably climate change, in our next business plan.

About the role..

As a Regulatory Economist you will provide high-quality and insightful economic and regulatory analysis to inform business decision making, the Severn Trent Executive Committee and the Board whilst also being a knowledgeable, trusted and thought-provoking economic and regulatory policy advisor to stakeholders across all business areas.

Let’s talk about the key accountabilities of the position.

  • Play a key role in the friendly and inclusive Economic Regulation team in developing Severn Trent Water’s approach to Ofwat’s next price review, PR24.
  • Work collaboratively across Severn Trent Water and with Ofwat on the development of the methodology for PR24, for example on developing markets, direct procurement for customers (DPC) and innovation.
  • Be responsible for the development of key economic and regulatory policy sections of the Severn Trent PR24 business plan, for example on embracing markets and innovation in the water sector.
  • Provide economic advice to other teams in Severn Trent Water, particularly on how the Ofwat regulatory framework affects our business areas. Act as a knowledgeable, trusted and thought-provoking advisor on economic regulation issues.
  • Prepare and present analysis as required by management, the Director of Regulation, the Severn Trent Executive Committee and/or the Board.

The skills and experience required to be successful include…

In order to succeed in this role it is expected that you will have:

Essential

  • Experience of applying economics to real world business issues.
  • Experience of working as part of a team and individually to meet tight deadlines.
  • Experience of building effective working relationships with expert and non-expert stakeholders.
  • Experience of presenting economic analysis in a clear and understandable format.
  • Strong Excel and PowerPoint skills.

Desirable

  • Knowledge of regulated utilities and their price reviews.
  • Knowledge of the water industry regulatory framework.

Severn Tent benefits include…

  • Competitive salary
  • 31 days holiday + bank holidays (and the ability to buy/ sell up to 5 days per year)
  • Annual bonus scheme and car allowance
  • Fantastic Pension scheme – The company contribution will be twice your contribution (Up to 15% when you contribute 7.5%)
  • Comprehensive flexible benefits scheme including Gymflex, Dental and Critical Illness Insurance and our Technology Scheme where you can spread payment for a variety of Technology purchases
  • A chance to save up to £500 per month for three or five years, with the option to buy Severn Trent Plc shares at a discounted rate

At Severn Trent..

At Severn Trent Water, we’re here to take care of one of life’s essentials.

We bring our wonderful water to our customers whilst taking their waste away safely, so that they can put the kettle on or jump in the shower without a second thought.

As one of the largest regulated water companies across England and Wales, we really want to make a positive difference to the communities we serve. We have some really big commitments to our customers, our environment, our society and our colleagues that we know, can only be achieved through our inclusive and energetic culture.

We employ over 6,500 people in a wide range of positions. We have a rich mix of customers of different cultures, interests, and experiences. Our region includes some of the most affluent areas of the country as well as some of the most deprived.

We have more towns and cities than any other water company but we also serve predominantly rural counties, home to some of the UK’s most beautiful environments, including the Wye River Valley, the Peak District, Sherwood Forest and the National Forest.

Our ambition is to have a workforce that reflects the people and communities we serve.


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