Senior Economist

Northern Powergrid Limited; City of London; On-site; GBP 75,000 - 95,000; Full time

Job summary

An energy utility company is looking for a Senior Economist to lead the development of its RIIO-ED3 incentives framework. This role requires strong economic modelling skills and a deep understanding of UK energy regulation. The ideal candidate will deliver expert economic analysis and collaborate with various stakeholders to influence regulatory outcomes. This is a full-time position based in Newcastle, Castleford, or London, with a competitive salary ranging from £75,000 to £95,000 based on experience.

Benefits

Car allowance / company car scheme

20% performance bonus

25 days holiday plus bank holidays

Qualifications

• Proven track record in economic analysis within a regulated industry.
• Experience in designing or managing regulatory incentives frameworks.
• Strong analytical and problem-solving skills.

Responsibilities

• Lead the design and evaluation of the RIIO‑ED3 incentives framework.
• Provide economic analysis on incentive mechanisms.
• Collaborate with stakeholders to influence regulatory outcomes.

Skills

Economic modelling and quantitative analysis

Understanding of UK energy regulation

Stakeholder engagement

Strategic thinking

Writing and verbal communication skills

Education

Degree in Economics or Finance

Postgraduate qualification in Economics or Energy Policy

Tools

Economic modelling tools

Job description

Overview

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.

Are you ready to shape the future of energy regulation?

Location: Newcastle, Castleford or London

Job Ref No: R7462

Visit northernpowergrid.com/careers to find out more about this and other career opportunities.

Applicants are considered on the basis of their suitability for the post irrespective of sex, marital status, sexual orientation, gender reassignment, race, age or disability, in accordance with the Equality Act 2010.

Base pay range

£75,000 – £95,000 depending on experience

Direct message the job poster from Northern Powergrid

Key Responsibilities

• Lead the design, modelling, and evaluation of the RIIO‑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.

Skills and Competencies

• 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.

Essential Qualifications and Experience

• 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.

Desirable Qualifications and Experience

• Postgraduate qualification in Economics, Regulation, or Energy Policy.
• Experience engaging directly with Ofgem or other economic regulators.

Benefits

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

Seniority level

Mid-Senior level

Employment type

Full-time

Job function

Utilities, Electric Power Generation, and Electric Power Transmission, Control, and Distribution