Principal Economist (RAPID) Full Time

We regulate the water sector in England and Wales, https://www.ofwat.gov.uk/jobs/make-a-splash/

Requirements of the role

We have an exciting opportunity for a Principal Economist to lead our economics hub within the RAPID and Environmental Planning directorate.

The RAPID economics hub plays a crucial role in providing economic advice and recommendations to address possible regulatory and commercial barriers for the delivery of new major infrastructure (particularly new reservoirs, water recycling projects, and major water transfers). This includes work to develop new regulatory and commercial mechanisms for complex infrastructure projects that are nationally significant.

This is an exciting opportunity to work on some of the most important capital projects in the water sector. You will join the team at an exciting time as we are working on a range of critical projects costing over £50bn to underpin future supply of water across England and Wales.

The Regulatory and Commercial frameworks must evolve to accommodate a programme of strategic water supply infrastructure development at a scale that has not happened for more than half a century. Most projects will involve multiple water companies, and it is important that future frameworks deliver value for customers and the environment. However, this will inevitably mean navigating complex trade-offs.

You will have the opportunity to work collaboratively with other teams across Ofwat, including the Price Review team in setting cost allowances and incentives, and the Major Projects team, responsible for the project management of the major infrastructure solutions in the RAPID programme from procurement stage and up to completion. You will also work closely with other regulatory partners, with the opportunity to develop knowledge and experience outside of economics.

Key Deliverables

Economic advice and analysis

• Lead, direct and deliver high-quality economic advice across RAPID to inform the development of future regulatory and commercial frameworks, cost allowances and incentives to support the successful delivery of nationally significant infrastructure projects.
• Collaborate with Ofwat colleagues, external experts and water companies to develop and evaluate the impacts of policy options, enabling RAPID to recommend options through RAPID/Ofwat governance processes for approval.
• Act as the key interface with the price control team, ensuring alignment and effective coordination where necessary.
• Contribute to the wider work of RAPID and, where necessary, Major Projects, to support the progression of its programme of infrastructure options through the development (gated) process.
• Support the Deputy Chief Economist in providing economic support to future policy development across RAPID and Major Projects.

Engagement

• Provide briefings and presentations (internal/external) on the policy areas to explain and seek internal agreement to the proposals, and external views.
• Attend external meetings with regulators, Governments and water industry leads to explain aspects of our regulatory and commercial workstreams.

People Management

• Manage a team of 4 Senior Associate Economists, including providing strategic oversight of the workplan, allocating / delegating work to the team, and supporting them in their development.
• Contribute to the wider leadership of RAPID.

All these areas will require close working with legal, policy or communication experts in Ofwat as well as with external stakeholders.

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Location

London, Birmingham

Contract type

Full time, Permanent

Profession

Economics

Working pattern

Flexible working, Hybrid

Closing Date

04/05/2026