Senior Economist

Organisation
Ofgem
Locations

Cardiff, Glasgow, London

Application Deadline
Salary
£45,614 - £62,699

Ofgem is committed to ensuring a reliable and sustainable energy supply for all UK households and businesses. We are at the forefront of driving the transition to a Net Zero, carbon-neutral energy system, aligning with our collective goal of environmental sustainability. Regardless of your position, joining Ofgem means contributing to innovative energy solutions that benefit both customers and the environment.

We are enhancing the technical expertise of our economics function across Ofgem. This expansion presents a valuable opportunity to become part of Ofgem's respected economics community, engaging in high-profile projects. As a participant, you'll utilise your economics knowledge to shape market frameworks, perform market assessments, and analyse policy impacts through advanced econometric and statistical tools.

Your role within the Analysis profession at Ofgem will support your career aspirations, allowing for flexible working across the organisation and involvement in cross-Ofgem projects that benefit from your unique skills and expertise.

You will conduct robust analyses, both quantitative and qualitative, to guide policy decisions and provide reliable, objective advice. Responsibilities include drafting clear materials for various audiences, managing projects rigorously to ensure timely, high-quality results, and fostering constructive relationships with stakeholders. Working collaboratively, you'll ensure a unified effort towards our goals.

Your work will integrate economic considerations into Ofgem’s policy-making processes. You will offer your expertise to guide and influence projects, encouraging innovative approaches and ensuring that economic analyses are of the highest standard. This includes critically assessing evidence, identifying economic risks, and proposing mitigation strategies.

This role at Ofgem is more than a job; it's an opportunity to significantly influence the UK's energy future, enhancing environmental sustainability and consumer welfare. If you're eager to apply your expertise and make a real difference, we're keen to welcome you to our team.

Job description

Purpose

Ofgem works on behalf of energy consumers to ensure that every household and business in the UK can rely on a safe and environmentally sustainable energy supply. We are playing a vital part in accelerating the transition to Net Zero and a carbon neutral energy system – a goal that everyone wants to achieve. Whatever your role, you’ll be playing your part in creating new energy solutions that are great for customers, and great for the environment.

Ofgem has a culture of inclusion that encourages, supports and celebrates the diverse voices and experiences of our colleagues. It fuels our innovation and helps ensure we can best represent the consumers and the communities we serve. Everyone is welcome - as an inclusive workplace, our employees are comfortable bringing their authentic selves to work.

Within these roles you will be part of the Analysis profession within Ofgem to support in your career aspirations. After the initial deployment, you will have the opportunity to work flexibly across Ofgem as a member of your Profession, working on cross-Ofgem projects, and/or in teams that require your skills and expertise.

The System Planning and Connections portfolio within the System Planning, Engineering and Technology Directorate of Ofgem (SPEnT) is in need of a Senior Economist to support strategic network planning to deliver the UK’s ambitions to decarbonise energy supply and reach net zero. SPEnT is focused on enabling the development of the energy system to deliver affordable, clean secure energy supplies. It is a newly formed directorate comprised of technical expertise alongside policy thinking for energy system development and is as part of Ofgem’s Infrastructure group.

A senior economist is required to work with the National Energy System Operator (NESO) to lead the development of the electricity and gas Centralised Strategic Network Plan (CSNP) methodology. This work will require in-depth knowledge of economic assessments required to make (infrastructure) investment decisions under uncertainty.

Key Responsibilities

  • Work with the National Energy System Operator (NESO) to lead the development of the electricity and gas Centralised Strategic Network Plan (CSNP) methodology.
  • Apply an in-depth knowledge of economic assessments required to make (infrastructure) investment decisions under uncertainty.
  • Undertake Cost Benefit Analysis approaches, Robust Decision Making, including use of Scenario Planning.
  • Assist in developing the analysis approach to plan the future energy system, considering whole system costs to make robust decisions on where future generation, demand and interconnectors should be sited.
  • Contributing to other strategic and reactive work undertaken by the team as it arises.
  • Undertake robust quantitative and qualitative analysis informing sound advice on key policy decisions.
  • Assess the reliability of evidence, including that gathered by more junior team members and give objective advice.
  • Provide clear and concise drafting for external and internal audiences, including contributions to briefings, internal decision documents, and consultations. Ensure robust project management and quality assurance processes are in place to deliver high-quality and timely behavioural science and research outputs.
  • Ensure effective project planning and timely delivery of outputs.
  • Constructive working relationships established with internal and external stakeholders.
  • Work collaboratively across team boundaries.

Key Outputs and Deliverables

  • Embed competition economics/evaluation considerations in Ofgem’s policy and decision-making processes, working effectively with other analytical and policy functions.
  • Provision of expertise to individuals and projects to ensure that competition economics/evaluation considerations are applied strategically, appropriately and effectively, providing guidance on constructive challenges and support staff to consider new and innovative methods.
  • Ensure that the economic analysis is delivered to a high standard. Critically assess and interpret the evidence available and the weight that can be attached to it; identify economic risks and propose mitigations for them.
  • Work in close partnership with the other technical experts to ensure a coherent work programme that supports delivery of stronger analytical best practice, standards and building of expertise.
  • Represent Ofgem at external events, conferences etc to showcase Ofgem’s work in this area and help shape the debate on regulatory economics to help increase our reputation as a leader in the field.
  • Contributing to other strategic and reactive work undertaken by the team as it arises.

Person specification

Essential Criteria

  • Experience: Track record of undertaking complex competition, evaluation or similar projects including developing appropriate assessment and analytical models (LEAD).
  • In-depth knowledge of economic assessments required to make (infrastructure) investment decisions under uncertainty.
  • Qualifications: A Degree or Masters in economics or other relevant analytical field or equivalent professional experience.
  • Analytical skills: Advanced analytical skills using relevant software packages (R, STATA, Python) and/or advanced Excel modelling skills. Experience of applying these tools in a professional context.
  • Evidence synthesis and communication: Ability to distil complex subject matter into relevant messages for different audiences – both orally and in writing, combined with excellent drafting skills.
  • Stakeholder engagement. Skilled at developing strategic relationships and working collaboratively across a range of internal and external stakeholders at all levels to shape the debate.
  • A strong understanding of Cost Benefit Analysis approaches, Robust Decision Making, including use of scenario planning will be essential.

Desirable Criteria

  • Sector knowledge: a sound understanding of the principles of economic regulation, supported by understanding of the commercial and regulatory frameworks governing the operation of electricity and gas markets.
  • An understanding of the principles and guidance within the Treasury’s Greenbook.

Behaviours

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

  • Seeing the Big Picture
  • Changing and Improving
  • Making Effective Decisions
  • Communicating and Influencing

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.

Apply before 11:55 pm on Monday 20th May 2024


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