Economist

OFWAT; Birmingham; Hybrid; GBP 80,000 - 100,000; Full time

Job summary

A regulatory authority for water services in Birmingham is seeking an Economist to join their RAPID team. This role involves contributing to economic regulation and policy development for major water projects. Candidates should have strong economics backgrounds and the ability to apply economic analysis to real-world problems. The position offers hybrid working, excellent benefits including generous leave and pension contributions, and the opportunity to make a significant impact in the water sector.

Benefits

Good employer pension contributions

25 days annual leave, increasing to 30 with service

Access to discounts on various goods and services

Fees paid for professional memberships

Volunteering days

Qualifications

• Strong understanding of applied economic theory.
• Experience in cost assessment and market design.
• Ability to explain economic concepts to non-technical audiences.

Responsibilities

• Contribute to regulatory frameworks for water infrastructure.
• Deliver projects exploring innovative commercial models.
• Ensure strategic development aligns with policy requirements.

Skills

Economics background

Applied economic analysis

Strategic thinking

Stakeholder management

Analytical skills

Communication skills

Education

Undergraduate degree in economics or equivalent experience

Job description

Join Ofwat’s RAPID Team as an Economist - RAPID & Environmental Planning

This is a fixed term appointment for 18 months.

*Office Location: Birmingham (B5 4UA) with hybrid working*

About Us

We are Ofwat, the Water Services Regulation Authority, a non-ministerial government department responsible for regulating the water sector in England and Wales. Following the Independent Water Commission’s final report, the UK government has set out a bold new direction - one that brings together expertise from across the sector to deliver better outcomes for customers and the environment.

We are working in collaboration with the government and other regulators to help establish a new body for England, combining our strengths with those of the Drinking Water Inspectorate, the Environment Agency, and Natural England. We’re also continuing to engage with the Welsh Government to support future decisions for Wales.

While these changes take shape, our mission remains the same: to hold water companies to account, drive performance, and ensure the sector delivers real value for customers, communities, and the environment. If you’re passionate about making a difference, this is a unique moment to join us and help shape the future of water, and together we can continue to make a positive impact.

The Role

The Independent Water Commission published their final report on the review of the water sector regulatory system on 21 July 2025. While we are entering a period of change, Ofwat still has a lot of important work to do. We remain focused on the day job and ensuring that the £104 billion investment package that we have approved delivers the maximum benefits for customers and the environment. Ofwat remains committed to working constructively with the government and supporting outcomes that are in the best interests of customers, communities, and the environment. Our focus remains the same: delivering strong, independent economic regulation to deliver our vision of a secure and sustainable water sector, acting in the best interests of customers, communities and the environment.

We are looking for an Economist to join our RAPID team at Senior Associate level. Established in 2019, the Regulators’ Alliance for Progressing Infrastructure Development (RAPID) is a dynamic partnership between Ofwat, the Environment Agency (EA), and the Drinking Water Inspectorate (DWI). RAPID was created to facilitate the development and funding of large-scale strategic water supply options by water companies. We identify and address key issues relevant to these major infrastructure projects and analyse the feasibility of strategic water supply schemes.

Following our PR24 final determination announcement on 19 December 2024, the number of strategic water supply schemes overseen by RAPID has increased from 18 to 28. Joining the RAPID team, you will have the opportunity to help shape the future of water regulation by contributing to the development of policy and regulatory frameworks for major water infrastructures, and leading projects that explore innovative commercial models to secure reliable water supplies for the future.

You will help shape the commercial, regulatory and institutional arrangements that will have a lasting impact on society for generations to come.

About You

Below are some of the key essential experience, skills & knowledge required for this post:

1. Lead Criterion 1: Strong economics background - An undergraduate degree in economics and/or a discipline with significant economic/numerate content or equivalent experience.

2. Lead Criterion 2: Applied economic analysis - Detailed understanding and proven experience of applying economic theory and techniques to real-world policy and/or regulatory problems.

This includes one or more of the following:

• Incentive design and the allocation of risk;
• Cost assessment and modelling;
• Market design and development; and/or Mechanisms to facilitate third party delivery of infrastructure.

3. Strong strategic thinking and understanding in regulatory policy, underpinned by sound knowledge of economic theory and commercial principles. Skilled in contributing to the strategic development, design, and implementation of policy within complex organisational environments.

4. Proven ability to build and sustain effective working relationships with a wide range of internal and external stakeholders. Adept at understanding diverse needs, expectations, and priorities, and at influencing and collaborating to achieve shared objectives to deliver desired outcomes.

5. Excellent written and oral communication skills, including the ability to understand and concisely explain economics concepts to non-technical audiences.

6. Strong analytical and problem-solving skills, including experience of identifying, analysing and accurately interpreting a range of data and insights to inform evidence-based decisions and solutions for complex problems.

7. Ability to effectively plan, prioritise and deliver multiple projects and programmes of work at the same time.

Why You Should Join Us:

• People Centric: Our people are at the heart of Ofwat and everything we do - we ensure all voices are heard and treat each other with respect; you'll be given the autonomy and the support to do your role in the best way.
• Innovative Work Environment: We embrace agile and new ways of working and have a culture build on trust, flexibility, and collaboration.
• Development Opportunities: Gain valuable experience and develop your skills in a supportive and dynamic setting.
• Work-Life Balance: Enjoy the flexibility of working from home combined with the benefits of in person collaboration in our Birmingham offices.
• Good employer pension contributions
• 25 days’ annual leave, increasing to 30 with each year of service, plus bank holidays and an extra 2.5 days of privilege leave.
• Access to exclusive discounts on a variety of goods and services, including retail outlets, theatre tickets, holidays, insurance, and a gym membership.
• Fees paid for membership of relevant professional bodies.
• Up to 3 volunteering days per year.
• Recognition vouchers scheme rewarding your hard work.
• Generous shared parental leave and pay supporting your family life.

Follow the link to Apply for full details about the role, please ensure you have submitted your Applications in full before the below deadline.

Closing date: 23.55 on 17 September 2025.