Senior Economist

Northern Powergrid; Newcastle upon Tyne; On-site; GBP 75,000 - 95,000; Full time

Benefits offered by this job

Pension enrolment

Car allowance / company car

20% performance bonus

25 days holiday + bank holidays

Job summary

Northern Powergrid Limited seeks a Senior Economist to lead the incentives framework for the RIIO-ED3 price control period. You will design, evaluate, and optimise regulatory incentives to deliver better outcomes for customers, stakeholders and shareholders.

In this strategic role, apply economic expertise to guide regulatory strategy, support decisions, and ensure an evidence-based approach aligned with Ofgem expectations. Competitive salary and benefits offered.

Qualifications

• Strong economic modelling and quantitative analysis skills.
• Deep understanding of UK energy regulation, RIIO price control mechanisms.
• Ability to translate complex economic concepts into actionable recommendations.
• Excellent stakeholder engagement and influencing skills.
• Strategic thinking to anticipate regulatory change.
• High-quality written and verbal communication skills.
• Proven track record in economic analysis within a regulated industry.
• Experience in designing and managing regulatory incentives frameworks.

Responsibilities

• Lead the design, modelling, and evaluation of the incentives framework.
• Provide expert economic analysis on financial and operational impacts.
• Monitor regulatory developments affecting incentives and returns.
• Collaborate with internal teams and external stakeholders to influence regulatory outcomes.
• Prepare reports, submissions, and presentations for leadership and regulator.
• Support RIIO-ED3 programme by integrating incentives strategy into the business plan.

Skills

Economic modelling

RIIO knowledge

Stakeholder engagement

Regulatory strategy

Quantitative analysis

Communication skills

Cross-functional collaboration

Cost of equity/debt understanding

Education

Bachelor's degree in Economics/Finance or related

Postgraduate qualification in Economics/Regulation/Energy Policy

Job description

Responsibilities

• Lead the design, modelling, and evaluation of the ED3 incentives framework, ensuring alignment with regulatory requirements and corporate strategy.
• Provide expert economic analysis to assess the financial and operational impacts of incentive mechanisms.
• Monitor and respond to external regulatory, policy, and market developments affecting incentives and returns.
• Collaborate with internal teams and external stakeholders to influence regulatory outcomes and secure positions for Northern Powergrid.
• Prepare high-quality reports, submissions, and presentations for senior leadership, the regulator, and other stakeholders.
• Support the wider RIIO-ED3 programme by integrating incentives strategy into the overall business plan.

Required Skills & Qualifications

• Strong economic modelling and quantitative analysis skills.
• Deep understanding of UK energy regulation, particularly RIIO price control mechanisms.
• Ability to translate complex economic concepts into clear, actionable recommendations.
• Excellent stakeholder engagement and influencing skills.
• Strategic thinking with the ability to anticipate and respond to regulatory change.
• High-quality written and verbal communication skills, with attention to detail., Degree in Economics, Finance, or a related discipline (or equivalent experience).
• Proven track record in economic analysis within a regulated industry, ideally energy or utilities.
• Experience in designing, evaluating, or managing regulatory incentives frameworks.
• Strong analytical and problem-solving skills, with proficiency in economic modelling tools.
• Demonstrated ability to work collaboratively across multidisciplinary teams.
• Understanding of cost of equity and cost of debt methodologies, including their application in regulatory price control frameworks.
• Knowledge of key regulatory finance components such as regulatory depreciation, regulated asset value, and allowed return calculations, Postgraduate qualification in Economics, Regulation, or Energy Policy.
• Experience engaging directly with Ofgem or other economic regulators.

Are you ready to shape the future of energy regulation?

Northern Powergrid is seeking a highly skilled Senior Economist to lead the development and delivery of Northern Powergrid's incentives framework for the RIIO-ED3 price control period. This is a pivotal opportunity to shape how we design, evaluate, and optimise regulatory incentives to deliver the best outcomes for our customers, stakeholders, and shareholders.

In this strategic role, you'll apply economic expertise to guide regulatory strategy, support commercial decision-making, and ensure our incentives approach is robust, evidence-based, and aligned with both business objectives and Ofgem's expectations. If you're ready to influence the future of energy regulation, we'd love to hear from you.

Along with a competitive salary between £75,000 - £95,000 (depending on experience) we also offer great benefits such as;

Benefits

• Enrolment into our pension scheme
• Car allowance / company car scheme
• 20% performance bonus
• 25 days holiday plus bank holidays (rising with service)
• Excellent opportunities for career growth