Senior Analyst/ Regulatory Economist

Job Summary

Fighting for fair, efficient, and cost-effective energy networks is at the heart of Ofgem’s mission. We’re looking for five Senior Analysts / Regulatory Economists to join us and play a crucial role in shaping the regulation of energy networks, ensuring they support the UK’s Clean Power 2030 and Net Zero 2050 ambitions while delivering the best outcomes for consumers.

Ofgem is Great Britain’s independent energy regulator. We’re at the forefront of change across the energy sector, driving toward Net Zero whilst protecting energy consumers - especially vulnerable people.

We’re offering permanent positions with a unique opportunity to work on some of the most complex and high-impact regulatory challenges in the energy sector. As we navigate a major transformation, these roles will contribute to developing robust cost assessments that influence billions of pounds in network investment. You will help shape the regulatory framework that ensures network companies deliver efficiently while enabling innovation and decarbonisation.

As part of this role, you will have the opportunity to engage with a broad range of stakeholders, from network companies to government bodies, ensuring our decisions are backed by robust evidence and analysis. Working in a dynamic and collaborative environment, you’ll be at the forefront of regulatory decision-making, using your analytical skills to assess costs, evaluate efficiency, and support strategic policy initiatives.

We’re looking for people with strong mathematical and analytical skills, the ability to manage and interpret complex data, and a keen eye for identifying trends and insights that can drive informed regulatory decisions. The ideal candidate will have experience in cost assessment techniques and policy analysis and will be comfortable presenting findings and negotiating with key stakeholders.

At Ofgem, you’ll be part of a forward-thinking and inclusive workplace that values expertise, collaboration, and innovation. We offer hybrid working, a supportive and high-performing environment, and a strong commitment to work-life balance, including part-time and job-share opportunities.

We have a critical purpose to ensure that energy networks operate efficiently, delivering affordable and reliable energy while enabling the UK’s transition to a cleaner and more sustainable future. This is your opportunity to play a key role in shaping the regulatory landscape, ensuring that investments in our energy infrastructure deliver value for consumers and support the UK’s long-term climate goals.

Job Description

• The successful candidates will join at an exciting time. The RIIO-3 price control review teams, covering both electricity & gas transmission and gas distribution, are assessing companies’ business plans that could facilitate spending of over £55bn in the period 2026 to 2031. Meanwhile, our ED3 programme (covering the local electricity distribution grids) is entering the key stage of finalising the regulatory strategy around which network companies will put forward their business plans for our assessment next year.
• Your initial role will be to join one of these sector teams to support their delivery of our cost assessment work. The role will utilise your strong analytical skills and critical thinking to understand and manage large amounts of data to formulate robust recommendations.
• Responsibilities could range from helping to design strategic approaches to drive ambitious business plans and ensure ongoing cost efficient delivery, to developing statistical models to undertake detailed analysis of specific parts of the companies’ business plan. We will seek to tailor the balance of responsibilities based on your skills, experiences and preferences.
• As your experience grows there will be opportunities to expand your responsibilities between: gas and electricity networks price controls; and implementing the price controls and managing, monitoring and running the large number of outputs, funding mechanisms and incentives that will be in place once the price controls are set.
• You will also have the opportunity to work flexibly across Ofgem as a member of the Analysis Profession, working on cross-Ofgem projects, and/or in teams that require your skills and expertise.
• The successful candidates will join at an exciting time. The RIIO-3 price control review teams, covering both electricity & gas transmission and gas distribution, are assessing companies’ business plans that could facilitate spending of over £55bn in the period 2026 to 2031. Meanwhile, our ED3 programme (covering the local electricity distribution grids) is entering the key stage of finalising the regulatory strategy around which network companies will put forward their business plans for our assessment next year.
• Your initial role will be to join one of these sector teams to support their delivery of our cost assessment work. The role will utilise your strong analytical skills and critical thinking to understand and manage large amounts of data to formulate robust recommendations.
• Responsibilities could range from helping to design strategic approaches to drive ambitious business plans and ensure ongoing cost efficient delivery, to developing statistical models to undertake detailed analysis of specific parts of the companies’ business plan. We will seek to tailor the balance of responsibilities based on your skills, experiences and preferences.
• As your experience grows there will be opportunities to expand your responsibilities between: gas and electricity networks price controls; and implementing the price controls and managing, monitoring and running the large number of outputs, funding mechanisms and incentives that will be in place once the price controls are set.
• You will also have the opportunity to work flexibly across Ofgem as a member of the Analysis Profession, working on cross-Ofgem projects, and/or in teams that require your skills and expertise.
  

Person specification

Key Responsibilities

• Leading areas of our cost assessment modelling approach for the RIIO-3 and/or ED3 price controls, including solutions to identify and justify suitable cost benchmarks across companies and price controls sectors. This could include: looking at company specific factors, such as regional differences, to consider if modelling adjustments should be made; or developing and testing cost models to see if they can accurately forecast cost areas.
• Providing oral and written briefings to our boards and committees on key issues - working closely with policy, regulatory finance and legal colleagues.
• Liaise with network companies (e.g. via sector working groups) on a regular basis to help refine and develop our approach to cost assessment.
• Support effective project management to ensure delivery of your work.
• Assessing company submissions for RIIO-3 and/or ED3 and applying Ofgem’s cost assessment toolkit to determine the level of efficient costs.
• Monitoring companies’ historical performance in RIIO-2 to provide feedback on their performance and to consider challenges and changes for RIIO-3/ED3, including changes to policy and enhancing our data collection and reporting templates.
• Drafting consultation and decision documents.
• Representing Ofgem at relevant industry events, seminars and working groups.
• Responding to changing priorities and helping manage organisational risk, by being flexible to embrace new workstreams across sector price controls. This could include using your analytical skills to support, or lead, the assessment of specific network projects that might require additional funding after the price control is set. Or supporting briefings and analysis in the event of appeal of the price control settlement(s).
  

Essential Criteria

• Expertise in cost assessment techniques and/or quantitative and qualitative analysis, as demonstrated by strong Excel skills and a proven record of high performance in current, or previous roles, over several years.
• Ability to manage, validate and analyse complex data, and to challenge and sense check results.
• Excellent communication and negotiation skills, with the ability to communicate technical information clearly and concisely and to work collaboratively to solve problems.
• Strong policy analysis and writing skills with demonstrable application of those skills to support policy development, consultation, decision-making processes and implementation.
• Strong project management skills to successfully deliver a programme of work in challenging timescales with minimal supervision.
  

Behaviours

We'll assess you against these behaviours during the selection process:

• Making Effective Decisions
• Communicating and Influencing
• Working Together
  

Technical skills

We'll assess you against these technical skills during the selection process:

• Please refer to the Candidate Pack and Role Profile attached for full details.
• Please refer to the Candidate Pack and Role Profile attached for full details.
  
  

Alongside your salary of £47,895, OFGEM contributes £13,875 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.

Apply before 11:55 pm on Monday 24th March 2025