Water industry regulator Ofwat is seeking to appoint regulatory, financial and competition economists to work on the upcoming Price Review in 2019, the Water 2020 programme and the development of upstream markets in bioresources and water trading.
The roles are part of Ofwat’s Analytics Pool which comprises a range of other economists with a variety of specialisms including competition, regulation and finance, statisticians, financial modellers, corporate finance experts, engineers and other experts.
Depending on their area of expertise, successful applicants will work on a range of activities and projects, including:
- the delivery of the next water sector price control PR19, including work on customer outcome delivery incentives
- monitoring the development of competition in water markets
- policy work concerning the future expansion of competition in water markets
- mechanisms to facilitate third party delivery of infrastructure
- competition law investigations in water markets open to competition
- monitoring of the non-household retail market including potential enforcement activities
- conducting analysis and leading market studies examining the functioning of particular markets and features of markets
- the development of upstream markets to support the delivery of the Water Act
- assessment of the weighted average cost of capital (WACC)
- assessment of financial stability following e.g. a restructuring or a merger
- considering the impact of mergers involving regulated water companies on Ofwat’s ability to make comparisons across regulated firms
Ofwat needs to be at the very top of its game
In an introduction outlining Ofwat’s work to potential applicants, Chief Executive Cathryn Ross said:
“The water sector faces new problems and very different challenges. The changing social and economic landscape also means we need to reconsider how business operates and how customers are able to afford their water and sewerage bills.”
“Ofwat needs to be at the forefront of determining and implementing a regulatory system that will protect customers’ interests, drive efficiencies and innovation, enable efficient companies to finance their functions and to ensure that the ‘promises of privatisation’ are delivered….To do this, Ofwat needs to be at the very top of its game.”
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