Senior Associate Economists, Cost Assessment

OFWAT; City Of London; Hybrid; GBP 40,000 - 60,000; Full time

Job summary

A water services regulatory authority in the UK is seeking two Senior Associate Economists to join their cost assessment team. This role involves developing expenditure allowances, engaging with stakeholders, and shaping economic regulation in the water sector. Ideal candidates will possess expertise in economics and excellent problem-solving and communication skills. The position offers a hybrid work environment, with opportunities for professional development and a strong work-life balance.

Benefits

Development opportunities

25 days’ annual leave

Employer pension contributions

Access to exclusive discounts

Volunteering days

Shared parental leave and pay

Qualifications

• Experience in a regulator or consultancy related to economic regulation.
• Strong aptitude for economic regulation.
• Proven ability to deliver projects in a complex stakeholder environment.

Responsibilities

• Support the development of expenditure allowances for the next price review.
• Contribute to policy development in incentive design and cost benchmarking.
• Engage with stakeholders across the water sector.

Skills

Experience of applying economics

Advanced problem-solving skills

Stakeholder management skills

Outstanding written communication

Ability to work in multi-disciplinary teams

Education

Undergraduate degree in economics or relevant field

Job description

*Office Location: London (E14 4HD) or 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

We’re looking fortwo Senior Associate Economiststo join our cost assessment team. These roles are full of influence and exciting challenges.

The cost assessment team plays a pivotal part in shaping the next price review, setting expenditure allowances, and developing policy in areas such as incentive design and improvements to the regulatory framework.

As a Senior Associate Economist, you will play a role in developing our approach to setting expenditure allowances at the next price review, including related policy development. You will work closely with principals, other senior associates, and graduate associates, and collaborate across teams.

About the role

You will:

• Support the development of our approach to setting expenditure allowances at the next price review, drawing on lessons from PR24 and the recommendations of the Independent Water Commission (IWC).
• Contribute to policy development in areas such as incentive design, cost benchmarking, and wider improvements to the regulatory framework.
• Work with colleagues to ensure robust, evidence-based recommendations for expenditure allowances.
• Engage with stakeholders across the sector, including water companies, other regulators, and internal teams.

This is an exciting time to join the team, with many opportunities to learn, develop, and shape the future of economic regulation, ultimately improving outcomes for customers and the environment. The opportunity also provides an opportunity to work in a supportive, collaborative team with opportunities for professional growth.

About You

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

1. Lead criterion 1: Experience of applying economics in a regulator, competition authority, consultancy or regulated company, with a strong interest in and aptitude for economic regulation.
2. Lead criterion 2: Advanced problem-solving skills, drawing on technical knowledge and both quantitative (including econometrics) and qualitative techniques to address complex issues.
3. Undergraduate degree (or higher) in economics, a numeric discipline, or another relevant field.
4. Proven ability to work effectively in multi-disciplinary teams to deliver projects in a complex stakeholder environment and at pace.
5. Excellent stakeholder management skills, demonstrated by influencing and building relationships with a range of internal and external stakeholders.
6. Outstanding written and oral communication skills, including the ability to explain complex analysis clearly and confidently to non-technical audiences.

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 and London offices.
• Excellent 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 application in full before the below deadline.

Closing date

23.55 on 09 November 2025