Principal – Cost change process and PR29

Requirements of the role

The Cost Change Process and PR29 Principal role has an important and valuable contribution to enable us to deliver on our goals and regulatory commitments. The cost change is an annual process that runs for most of the year and, in 2026 alone, is likely to provide around £3.5bn of additional investment to help maintain and enhance the customer service and the environment now and for future generations. This role is central to the successful coordination and delivery of the cost change process both in the remainder of 2026 and in 2027 and 2028. The team works with colleagues from across both the price review directorate and wider Ofwat covering key issues such as supporting economic growth, asset health and delivering major projects.

You will influence how the process is designed, the policy we follow and ultimately its delivery. The role will work closely with senior colleagues to ensure that all stakeholders understand the cost change process and the decisions that we make. The role will work flexibly with the team to provide support and resilience for our annual in period determinations of outcome delivery incentive payments. You will work closely within the price review directorate, taking the lessons learnt to help shape how we might incorporate in period determinations into the 2029 price review for price controls applying from April 2030.

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