Economic Analyst

National Energy System Operator Limited; Warwick; On-site; GBP 45,000 - 55,000; Full time

Benefits offered by this job

Bonus based on company performance

26 days annual leave

Pension scheme (double match up to 12%

Annual enrollment NESO Savings Plan

B esp. Birthday off

Job summary

National Energy System Operator (NESO) invites applications for an Economic Analyst based in the UK. The role supports the Office of the Chief Economist with economic analysis, forecasting, and cost considerations across heating, transport, and generation sectors.

Hybrid work arrangement is offered with office presence once per week; travel to Warwick may be required. Strong numeracy, data analysis, and Excel skills are essential, with Python/SQL/Power BI advantageous.

Qualifications

• Strong numeracy and numerical analysis skills.
• Experience drawing economic insights from data and forecasting.
• Ability to communicate complex topics clearly and succinctly.

Responsibilities

• Provide economic analysis and modelling on energy sector topics.
• Investigate economic drivers of decarbonisation across sectors.
• Lead tasks and contribute to research project methodologies.

Skills

Numeracy

Analytical thinking

Communication

Structured problem solving

Education

Degree in Economics or related field

Tools

Python

SQL

Power BI

Job description

About the Role

Great Britain is at a critical point on its path to net zero and decarbonisation of the energy system is at the heart of this journey. Now, more than ever, energy strategy and policy must go further and faster to ensure that we not only deliver against the Government’s net zero ambitions, but that this is done in a way that ensures that energy is reliable, affordable, and fair for all.

The Office of the Chief Economist (OCE) is an important and relatively new capability for NESO, critical in helping NESO to navigate the complexities of the energy transition and towards Net Zero. It does so by bringing together a whole systems view of the UK's energy landscape and combining this with expert economic analytical capability and insight that inform the decisions, positions, advice, and recommendations that NESO makes.

As an Economic Analyst, you will be an integral part of the Office of the Chief Economist, which sits within the multidisciplinary Strategy and Policy directorate. Your role will involve supporting with economic analysis across various areas of NESO, considering economic welfare aspects, macroeconomic factors, economic trends, regulatory and market economics, and consumer behaviour influences. You will also play a key role in analysing and forecasting economic costs within the evolving energy landscape. This comprehensive approach facilitates a holistic view of the energy system and informed decision-making, providing valuable insights and analysis for an economically sound energy market transition.

This role is based in Warwick or Wokingham on a full-time basis. We continue to offer hybrid working from office and home with an expectation to be in the office at least 1 day per week. If not based at Warwick then occasional (at least 1 day per week) travel to Warwick may be required.

Key Accountabilities

• Contribute to various projects within the Office of the Chief Economist, providing economic analysis and modelling on topics related to the energy sector, including cost-benefit analysis, market trends and forecasts, policy evaluation, and impact assessments.
• Investigate the economic drivers and outcomes of decarbonisation, considering various aspects such as economic welfare, macroeconomic factors, economic trends, regulatory and market economics, and consumer behaviour influences.
• Conduct literature reviews, data gathering, and analysis, and contribute to the development of economic methodologies for various research projects.
• Proactively take the lead on completing tasks and lead analysis work as appropriate, collaborating with stakeholders across NESO.
• Attend conferences, webinars, research events to stay up to date on the latest industry insights, economic analysis and emerging policies.
• Conduct economic analysis across different sectors in the energy industry, such as heating, transport, and generation, identifying and quantifying economic factors behind net zero targets and policies.
• Apply whole system thinking whilst drawing conclusions from economic analyses and insights, and communicate these clearly and succinctly, both internally and externally.
• Assist in the preparation of briefing notes and submissions for ministers or economic reports for executives as needed.
• Participate in the development, content creation, and maintenance of an internal knowledge-sharing platform where economic insights (articles/blogs), research findings, and best practices can be stored and disseminated across the organisation.

Applicants must have the right to work in the UK by the start of employment. Visa sponsorship may not be available for this role and will be considered in line with business requirements.

About You

• Curious and forward thinking: An interest in the broader energy landscape and demonstrates a proactive approach to learning and staying updated with industry trends. Additionally, shows initiative by taking the lead on completing tasks.
• Research and Analytical skills: Ability to conduct desktop research and analyse data from a broad range of sources (macroeconomics, industry trends, energy supply / demand data, economic trends, etc.). Seek to draw key conclusions and proactive to provide initial insights.
• Strong numeracy and numerical analysis skills are vital.
• Effective Communication: Clear and concise verbal and written communication. Can explain complex topics simply and build relationships with employees at all levels.
• Structured problem solver: Enjoy solving analytical and empirical problems with a focus on data related challenges and solutions.
• Computer literate: Capability across the MS Office suite, particularly MS Excel to carry out economic analysis. Experience of other programming languages such as Python, SQL, Power BI is advantageous but not essential.

Knowledge

Knowledge of macroeconomics, microeconomics, applied economics, market economics, regulatory economics, econometrics, and / or behavioural economics. An awareness of the GB whole energy system, knowledge of the structure, key stakeholders and the interaction between these parties.

Experience

• Experience in drawing economic insights from data, conducting economic forecasting and /or economic impact analysis (e.g., cost benefit analysis).
• Experience working collaboratively in multidisciplinary teams and a willingness to engage with internal and external stakeholders.
• Experience in conducting economic analysis within the energy sector is advantageous, preferably within industry, consulting or research capacity.

Qualifications

• Degree in Economics or closely related discipline (for example, courses including micro and macroeconomics or applied economics modules) - or equivalent demonstrable experiences.
• Strong working knowledge of Excel.
• Broad understanding of the GB energy sector.
• Experience of carrying out research or analysis in a workplace environment.

What You'll Get

A competitive salary of £45,000 - £55,000 dependent on experience and capability.

• You will receive a bonus based on company performance- 26 days annual leave as standard
• A competitive contributory pension scheme where we will double match your contribution to a maximum company contribution of 12%.
• Annual Enrollment to NESO Savings Plan, when you save between £20- £500 a month from your take-home pay, we will pay a 50% matching contribution.
• Flexible Bank Holidays & Holiday Trading
• Additional Birthday Day Off
• Cycle to Work Scheme, Retail & Gym Discounts
• Private Medical Insurance, Critical Illness Insurance & Personal Accident Insurance

About Us

At the National Energy System Operator (NESO), we play a vital role in tackling climate change and securing Great Britain's energy future. We already operate the world's fastest decarbonising electricity system and are working towards our ambition to run it carbon-free for a short period this year - provided the market supplies electricity exclusively from renewable sources. Alongside this, we provide expert advice to government on how to deliver a clean power system by 2030. In autumn 2024, the Electricity System Operator (ESO) transitioned to become NESO - an independent, expert public corporation with a whole-system view across electricity, gas, and hydrogen. NESO operates independently and transparently, always acting in the best interests of all energy users. Licensed and regulated by Ofgem, we make impartial decisions that balance sustainability, affordability and security. Our organisation is fully independent from government, the regulator and all commercial interests, with a clear focus on system-wide benefit, long term thing and public value. The time to deliver is now. Join the energy transformation and help shape the future. Your energy. Our future. Together.

More Information

This role closes at 23:59, on the day before date shown above, however we encourage candidates to submit their application as early as possible and not wait until the published closing date as this can vary. Research shows that some people may hesitate to apply unless they meet every single requirement.
At NESO, we believe potential comes in many forms and we're committed to a fair, inclusive recruitment. We're committed to building a workforce that represents the communities we serve, and a working environment in which each individual feels valued, respected, fairly treated, and able to reach their full potential.
If this role sparks your interest but you're not sure you tick every box, we still want to hear from you. process where everyone has the opportunity to show their talents.
We celebrate the difference people can bring into our organisation, and welcome and encourage applicants with diverse experiences and backgrounds.
At the National Energy System Operator (NESO), we play a vital role in tackling climate change and securing Great Britains's energy future. We already operate the world's fastest decarbonising electricity system and are working towards our ambition to run it carbon-free for a short period this year - provided the market supplies electricity exclusively from renewable sources. Alongside this, we provide expert advice to government on how to deliver a clean power system by 2030. In autumn 2024, the Electricity System Operator (ESO) transitioned to become NESO - an independent, expert public corporation with a whole-system view across electricity, gas, and hydrogen. NESO operates independently and transparently, always actin in the best interests of all energy users. Licensed and regulated by Ofgem, we make impartial decisions that balance sustainability, affordability and security. Our organisation is fully independent from government, the regulator and all commercial interests, with a clear focus on system-wide benefit, long term thing and public value. The time to deliver is now. Join the energy transformation and help shape the future. Your energy. Our future. Together