Senior Economist

Cardiff, Glasgow, London

As Great Britain’s regulator for the energy industry, Ofgem exists to ensure a safe, secure and sustainable energy supply to British households and businesses. 

As the Senior Economist, you will lead various outputs and deliverables within an expanding team, working collaboratively with the DCC team, other Ofgem teams, and colleagues in the Department of Energy Security and Net-zero (DESNZ).  

Your role will include leading the development of our approach to price controls, gathering and analysing data for benchmarking and developing frameworks to identify and a develop robust proposals for our position on price control decisions; and delivering written consultations. You will respond effectively to evolving government policies, considering pros and cons and drafting clear and concise documents for informed decision-making. 

You will play a crucial part in advising on policy feasibility and building collaborative working relationships with other government departments. You will have opportunities to present at events and conferences, engage with multiple sectors in the heat network market, and communicate policy benefits, challenges, and trade-offs to senior Ofgem colleagues. 

We are looking for a skilled economist with experience of working on price control and incentives policy or delivery with the ability to analyse quantitative and qualitative information, identify issues, and develop options and recommendations on a wide range of technical, commercial and policy issues. Your exceptional ability to lead and influence discussions with colleagues and stakeholders will be invaluable in developing robust policies. As a pivotal member of our multi-disciplinary team, you will take the lead in conducting economic analysis and using your expertise to create practical solutions. An example of this is developing benchmarking strategies to safeguard consumers from abuse of monopoly pricing. 

Your proficiency in communicating complex issues with clarity to non-specialists will be instrumental in ensuring robust evidence-based decision-making and garnering support from stakeholders for our developing solutions. 

This is a really exciting opportunity to work on high profile projects whilst shaping a brand-new regulatory regime. You will be joining a collaborative and supportive team who bring together wide-ranging experience and expertise.  

If you are passionate about making a difference, thriving in a collaborative environment, and shaping the future of our industry, we want to hear from you. 

The rollout of smart meters to every home and small business brings immediate benefits to consumers, helping them to take control of their energy usage, and is a key enabler for the transition to a more flexible energy market and the move to a net zero economy.  We are looking for an economist to join the team that provides regulatory oversight of the Data and Communications Company (DCC).   

DCC is the monopoly company that sits at the heart of the national smart metering system, providing secure communications between smart meters and energy suppliers, network companies and other third parties.  As a monopoly, it is vital that appropriate controls are in place over DCC’s performance and costs so that it focusses on providing a good quality and efficient service.  You will play a key role in the delivery and optimisation of the annual ex post price control process and performance incentives regime to secure the best outcomes for consumers. 

You will have strong problem-solving skills combined with an eye for detail – able to apply your economic skillset to scrutinise evidence, spot issues and develop solutions. You will work collaboratively as part of a small team and will need to build constructive relationships with DCC and Government. 

Within this role you will be part of the Analysis profession within Ofgem. 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. 

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. 

Key Responsibilities 

• Leading the design of a new Price Control framework for the Data Communications Company (DCC) in the context of the wider DCC model Review.  
• Leading workstreams on designing and implementing changes to the ex-post DCC price control which include move towards ex -ante process, incentive mechanisms, drafting price control processes and procedures. 
• Leading workstreams within the annual ex-post DCC price control process.  For example: analysing the quantitative and qualitative information that DCC submits to us; developing robust proposals for our position on price control decisions; and delivering written consultations. 
• Leading workstreams that optimise DCC’s price control and incentives frameworks.  For example: assessing how the price control/incentive framework should apply in novel situations; reviewing guidance to DCC to reflect changes in policy or context. 
• Building constructive working relationships with internal stakeholders (including legal advisers), DCC and Government. 
• Contributing to other strategic and reactive work undertaken by the team as it arises. 

Key Outputs and Deliverables 

• Robust quantitative and qualitative analysis informing sound advice on next steps.  
• Clear and concise drafting for external and internal audiences, including contributions to briefings, internal decision documents, and consultations.  
• Effective project planning and timely delivery of outputs. 
• Constructive working relationships established with internal and external stakeholders. 
• Work collaboratively across team boundaries.  

Key Stakeholder Relationships 

You will be expected to establish strong stakeholder relationships both internally and externally, which means: 

• Developing good working relationships at working level and at senior management level across Ofgem. 
• Building a network of contacts both internally and externally, to share knowledge, experience and good practice. 
• Ensuring that perspectives of key stakeholders are understood and fairly considered. 
• The key external stakeholders are DCC’s customers, DCC and DEZNZ. 

Essential Criteria

• Analysis and use of evidence: ability to analyse quantitative and qualitative information, identify issues, and develop options and recommendations on a wide range of technical, commercial and policy issues (Lead criteria) 
• Price control and incentives: experience of working on price control and incentives policy or delivery. 
• Communication: ability to communicate effectively to a range of internal and external audiences, both verbally and in writing. 
• Stakeholder engagement: ability to build collaborative working relationships with internal and external stakeholders, to represent Ofgem in external meetings, and to use influencing skills to secure desired outcomes. 
• Organisational skills: ability to proactively prioritise, plan and schedule complex and diverse tasks.  

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. 
• Teamwork: ability to work effectively as part of a team, responding flexibly and supportively to challenges as they arise. 

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

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

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.

Alongside your salary of £43,650, OFGEM contributes
£11,785 towards you being a member of the Civil Service Defined Benefit Pension scheme.

Find out what benefits a Civil Service Pension provides.

Ofgem can offer you a comprehensive and competitive benefits package which includes; 30 days annual leave after 2 years; Excellent training and development opportunities; The opportunity to join the generous Civil Service pension which also includes a valuable range of benefits; Hybrid working (currently 1 day a week in the office but is in review), flexible working hours and family friendly policies. Plus lots of other benefits including clean and bright offices based centrally, engaged networks and teams and an opportunity to contribute to our ambitious and important targets of establishing a Net Zero energy system by 2050. This exciting blend of professional challenge and personal reward identifies career opportunities at Ofgem as something to get excited about.

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Job contact :

• Name : Jennifer Hughes
• Email : recruitment@ofgem.gov.uk

Recruitment team

• Email : recruitment@ofgem.gov.uk