Principal Economist - Business Retail Market

Join Ofwat’s Business Retail Market Team as a Principal Economist

*Office Location: London (E14 4HD) or Birmingham (B5 4UA) with hybrid working*

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.

The water sector is entering a new chapter. The government has set out a bold new direction, bringing together expertise from across the sector to deliver better outcomes for customers and the environment. We are collaborating with fellow regulators to respond to recommendations in The Independent Water Commission Report, the Welsh Government’s response to the Green Paper, Shaping the Future of Water Governance in Wales, and the Government’s White Paper, A new vision for water.

Ofwat is working with the government and other regulators to help create a new body for England, bringing together our strengths with those of the Drinking Water Inspectorate, the Environment Agency and Natural England. We are also continuing to work with the Welsh Government to support decisions on the future arrangements for Wales.

While these changes take shape, our mission remains the same: to hold water companies to account, drive performance, and ensure the sector delivers real value for customers, communities, and the environment. If you’re passionate about making a difference, this is a unique moment to join us and help shape the future of water, and together we can continue to make a positive impact.

The Role

We are seeking a Principal Economist join our Business Retail Market team. The team has a multi-faceted programme of work aimed at improving the Business Retail Market so that it delivers better outcomes for customers, society and the environment. The team aims to do this through initiatives on regulatory customer protections, improving company performance, and monitoring and enforcement work. All our work here involves extensive engagement with external stakeholders.

Now is a particularly exciting time to join the team as we are at an important juncture in the development of the market. We have recently established revised customer protections, and we are currently reviewing price and non-price protections for customers in the business retail market. We are stepping up our market monitoring and work to ensure companies comply with their obligations with respect to customer protections. Water scarcity and resilience is becoming increasingly important for the sector, and the team is working with industry to understand how the business retail market can contribute to improved water efficiency. In addition to this, we are also working with Government (Defra) on water sector reform, new legislation, and what this may mean for the business retail market.

This role has an important and valuable contribution to enable us to deliver on our goals and regulatory commitments. As a Principal Economist in the Business Retail Market team, you will lead and support a number of strategically important workstreams. These are likely to include leading Ofwat's role in analysing and understanding market evolution and the development of competitive dynamics, understanding, monitoring and, where relevant, strengthening customer protections, improving trading parties' support for the market, and working with industry and stakeholders – including Defra - to understand, prepare for and deliver change. As you will be part of a small and dynamic team, you will also work flexibly across the team's various functions relating to the Business Retail Market. You will also represent Ofwat on industry Committees and Working Groups as appropriate.

About You

Below are some of the key essential experience, skills & knowledge required for this post:

• Degree level qualification in economics and/or a discipline with significant economic content.
• Demonstrable experience and knowledge of microeconomic analysis and markets, competition and regulation, and the benefits they can deliver for customers. This includes the identification and application of relevant economic, legal and policy frameworks and requirements.
• Outstanding analytical and problem-solving skills, including experience of identifying, analysing and accurately interpreting a range of data and insights to inform evidence-based decisions and solutions for complex problems.
• Skills and experience in formulating, presenting, and writing clear and concise evidence-based advice to inform policy making, decision building and recommendations, for a range of audiences and to encourage and respond to constructive challenge to build confidence in decision-making
• Ability to effectively plan, prioritise and deliver large projects and programmes of work both directly and by managing multi-disciplinary teams, and where necessary external advisors/consultants.
• Experience of building and maintaining constructive working relationships with a diverse set of internal and external stakeholders to understand their needs, expectations, and priorities, and to influence and collaborate effectively to deliver desired outcomes.

Why You Should Join Us

• People Centric : Our people are at the heart of Ofwat and everything we do - we ensure all voices are heard and treat each other with respect; you'll be given the autonomy and the support to do your role in the best way.
• Innovative Work Environment : We embrace agile and new ways of working and have a culture build on 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 the benefits of in person collaboration in our Birmingham and London offices.
• Excellent employer pension contributions of up to 30%.
• 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.
• Generous shared parental leave and pay supporting your family life.

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