Senior Associate Economists, Cost Assessment

We are Ofwat, the Water Services Regulation Authority, a non-ministerial government department responsible for regulating the water sector in England and Wales.

We have an opportunity for two Senior Associate Economists to join our Cost Assessment Team within Price Review Directorate.

The water sector is entering a new chapter. 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.

Ofwat will be 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.

You can find out more about why you should join Ofwat, our strategy, values and our framework for success in the attached Information for Candidates Pack.

We’re looking for two Senior Associate Economists to 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.