Position type: Permanent
Job reference: 398748
No. Vacancies: 1
Location: Birmingham (B5 4UA) or London (E14 4HD) based with hybrid working
Salary: £38,764 - £48,000
Closing date: 17 April 2025 at 23:55
Application method: apply via Civil Service Jobs - Regulatory Economist - Civil Service Jobs - GOV.UK
Job title: Regulatory Economist
We have an opportunity for an experienced Regulatory Economist to join our Cost Assessment Team in Price Review.
About Us
We are Ofwat, the Water Services Regulation Authority, a non-ministerial government department responsible for regulating the water sector in England and Wales. Our work has genuine significance – no other organisation does the work we do. It’s unique and meaningful: keeping our water flowing; ensuring water bills don’t cost a penny more than needed; holding water companies to account. Come and work at the source of everyday life.
The Role
The cost assessment team is key to the delivery of PR24. We are an enthusiastic mix of economists and technical water and wastewater specialists that lead on the assessment of efficient expenditure for the next price review.
Water companies have historically spent around £10 billion per year in real terms, which directly impacts customer bills. Setting efficient expenditure allowances helps to protect customers from paying more than they should for their water and wastewater services. Our approach to setting efficient expenditure allowances at PR24 is outlined in Appendix 9 of our final methodology. There are three sub-teams within the PR24 cost assessment team:
- Setting efficient base expenditure allowances
- Setting efficient enhancement expenditure allowances
- Designing price control deliverables (PCDs) and monitoring delivery
You will work within the enhancement and PCD teams. The role will involve working with other economists and engineers to continue developing our PCD policy and our approach to holding companies to account. Given the significant step up in investment in the sector in the coming years this is an exciting time to join the Cost Assessment team.
Why Join Us
- Meaningful Impact: Contribute to our purpose to drive water companies to deliver more for customers and the environment.
- Innovative Work Environment: We embrace agile working and a culture of trust, flexibility, and collaboration.
- Development Opportunities: Gain valuable experience and develop your skills in a supportive and dynamic setting.
- Work-Life Balance: Enjoy the flexibility of working from home combined with meaningful collaboration in our London or Birmingham offices.
Other Benefits
- Excellent employer pension contribution of over 28%
- 25 days’ annual leave, increasing to 30 with each year of service, plus bank holidays and an extra 2.5 days of privilege leave.
- Access to exclusive discounts on a variety of goods and services, including retail outlets, theatre tickets, holidays, insurance, and a gym membership.
- Fees paid for membership of relevant professional bodies.
- Up to 3 volunteering days per year.
- Recognition vouchers scheme rewarding your hard work.
- Generous shared parental leave and pay supporting your family life
About You
Experience, skills and knowledge
- Undergraduate degree in economics or another numerate discipline.
- Experience in applying economics or analytical techniques in a regulation or competition authority; or commercial setting, such as consultancy or a regulated company.
- Experience of working effectively and collaboratively with a range of internal and external stakeholders
- Experience in using data tools like excel to validate and analyse data to inform robust policy decisions
- Excellent written and oral communication skills, including the ability to understand and concisely explain complex issues in non-technical language.
- Understanding of the impact of incentives on company behaviour
Attributes
- Building trust
- Promotig collaboration
- Being an adaptable thinker
- Creating clarity
Attributes as per Ofwat’s Framework for Success for Director Grade. You can read more about our attributes here.
To read more about the role and selection process, please follow the link to apply.
Applications Deadline: 23.55 17 April 2025
