Economics

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Economics As part of the price review, we are planning to introduce new incentives to encourage the development of new markets – particularly in bioresources and water resources. We will need to assess company business plans for the next five years and beyond, apply the right incentives, and then balance these to ensure they are working as intended. This will mean applying economic insight and techniques to real world problems, understanding the impacts on markets and how the price control incentives interact. You will need to apply industrial, regulatory, and financial economics techniques. We are looking for economists to help us create and balance the right incentives. We are looking for both Senior Associates and Principals. We would expect a Principal to be capable of much stronger intellectual leadership, and to have a track record of leading teams and engaging with senior managers and stakeholders. We would also expect them to have a more in-depth practical knowledge of economic regulation, and to have greater understanding – and ideally some experience – of price reviews or economic incentives.

Information for applicants

Professional requirements – Senior Associate As a Senior Associate, you would play a key role in our price review, perhaps leading a workstream or managing a project. In playing a key role in our programmes or projects, you’ll ensure that we’re delivering on our strategic objectives to time and to budget, and also contribute to the effective identification and management of strategic risk and opportunities. As a Senior Associate you would have autonomy, responsibility and leadership opportunities, and you would have ample opportunities to develop and consolidate your skill set. You will definitely be a self-starter and to that end will require minimal supervision and oversight from senior colleagues. You will continue to hone your judgement and be expected to exercise it responsibly in line with our strategy and ways of working. You will also be developing and using your ability to persuasively communicate and engage with stakeholders, both internally and externally. You would be expected to provide support to colleagues across the office, proactively sharing skills and knowledge, and equally will be supported by coaching and mentoring.

Critical Qualifications

Desirable

Educated to degree or post-

Post-graduate degree or equivalent

graduate level in a relevant

in a relevant discipline

discipline

Experience Experience of developing and

Experience with economic

applying an analytical framework to

regulation, particularly in the water

assess complex information

sector or price reviews in other regulated sectors

Experience of working under pressure to produce high quality

Experience of leading work streams

analysis to tight timescales while

or projects within a complex

managing competing priorities

programme, including planning, tracking and reporting progress, and

Experience of building effective

prioritisation

relationships and networks with Experience of working in a project and programme environment,

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Information for applicants

Critical

Desirable

relevant internal staff and external

including managing and escalating

peers

risks

Experience of applying techniques to economic regulation, including one or more of the following: 

Incentive design and the allocation of risk;



Setting the cost of capital and margins;



Access pricing and charging rules;



Cost assessment and modelling;



Market design and development;



Mechanisms to facilitate third party delivery of infrastructure.

Experience of providing strong intellectual leadership on regulatory policy issues based on sound knowledge of relevant economic theory and quantitative techniques Skills Excellent oral and written communication skills, including the ability to communicate complex analysis and issues to nontechnical audiences Ability to take ownership and accountability for delivery of tasks and projects. Ability to collect and assess evidence to make robust decisions.

3

Information for applicants

Critical

Desirable

Ability to work in multi-disciplinary teams with colleagues with different but complementary backgrounds Knowledge In-depth practical knowledge of

Understanding of economic

microeconomics and its application

regulation, particularly price reviews

to economic regulation Highly numerate with strong analytical skills

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Information for applicants

Professional requirements – Principal You would play a key role on our price review, and you are likely to be leading a key workstream, or managing a project. In leading our programmes or projects, you’ll ensure that we’re delivering on our strategic objectives to time and to budget, and in line with our ways of working. You will make an important contribution to understanding and managing strategic risk and opportunities. Internally, our Principals will have a seat at the leadership table, forming part of our wider leadership team, and will take responsibility for cracking our toughest problems to deliver our objectives. You will have a broad portfolio of issues, and will take ownership of a range of specific policies and procedures, taking responsibility and accountability for their success. You will be expected to have good judgement and to exercise it across complex issues responsibly in line with our strategy and ways of working. You will be expected to provide support to colleagues across the office, proactively sharing skills and knowledge, and equally will be supported by coaching and mentoring. You may also have line management responsibility. Effective stakeholder engagement will be an important for your success, as you nurture existing relationships whilst developing new ones. Critical Qualifications

Desirable

Educated to degree or post-

Post-graduate degree or equivalent

graduate level in a relevant

in a relevant discipline

discipline

Experience Experience of developing and

Experience with economic

applying an analytical framework to

regulation, particularly in the water

assess complex information

sector or price reviews in other regulated sectors

Experience of providing strong intellectual leadership under

Experience of leading work streams

pressure to produce high quality

or projects within a complex

analysis to tight timescales, while

programme, including planning,

managing competing priorities

5

Information for applicants

Critical

Desirable

Experience of leading a team to

tracking and reporting progress, and

deliver complex tasks and projects,

prioritisation

including managing multidisciplinary teams and consultants Experience of building effective relationships with senior staff and external stakeholders, and identifying and facilitating linkages between projects and work streams Experience of applying techniques to economic regulation, including one or more of the following: 

Incentive design and the allocation of risk;



Setting the cost of capital and margins;



Access pricing and charging rules;



Cost assessment and modelling;



Market design and development;



Mechanisms to facilitate third party delivery of infrastructure.

Experience of providing strong intellectual leadership on regulatory policy issues based on sound knowledge of relevant economic theory and quantitative techniques Skills Excellent oral and written communication skills, including the ability to communicate complex analysis and issues to nontechnical audiences

6

Information for applicants

Critical

Desirable

Excellent analytical and decision making skills, including understanding legal, financial and economic implications of decisions Knowledge In-depth practical knowledge of

Understanding of the economic

microeconomics and its application

regulation of the water sector in

to economic regulation

particular

Highly numerate with strong analytical skills Understanding of economic regulation, particularly price reviews

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