Principal – Cost change process and PR29

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 a Cost Change Process and PR29 Principal to join our Price Review Directorate.

The water sector is entering a new chapter. The government has set out a bold new direction, bringing together expertise from across the sector to deliver better outcomes for customers and the environment. We are collaborating with fellow regulators to respond to recommendations in The Independent Water Commission Report, the Welsh Government’s response to the Green Paper, Shaping the Future of Water Governance in Wales, and the Government’s White Paper, A new vision for water.

Ofwat is working with the government and other regulators to help create a new body for England, bringing together our strengths with those of the Drinking Water Inspectorate, the Environment Agency and Natural England. We are also continuing to work with the Welsh Government to support decisions on the future arrangements 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.

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.

Key deliverables

In this role you will be expected to:

• Lead the planning and delivery of the annual cost change process, managing consultants, planning and organising relevant plenaries, board and governance papers, liaising with comms as required for publications and wider queries.
• Coordinate modelling and delivery of any documents to be produced to support decision making on the cost change process.
• Develop relevant policy and update existing policy related to the cost change process. This may include decision making on modelling issues as required working with appropriate teams and individuals.
• If required, deliver any relevant changes to company licences through consultation.
• Working closely with directors across the cost change process to ensure that responsibilities and deliverables are clear and managed on time and to high quality, challenging and discussing needs as required.
• Develop and maintain relationships with key stakeholders, including other regulators, the UK and Welsh government and company representatives at all levels to ensure transparency and a no surprises approach to the cost change process.
• Deputising for the director both internally and externally as required, including with government, companies and other stakeholders.
• Understanding, and providing support, for the in period outcome delivery incentive determination process as required
• Shaping future process and approach, drawing on identified areas for improvements and lessons learnt. Contributing to emerging policy development for the 2029 price review, with particular focus on how and if the cost change and in period outcome delivery incentive determination processes will be implemented in the future
• The role may require line management responsibilities and managing external contractors.

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

How to apply

Apply through the Civil Service Jobs website where you’ll be asked to create an account and complete an application form (CV and personal statement). If you’re unable to make an electronic application, please contact recruitment@ofwat.gov.uk and we will support you in completing your application.

Please see the candidate guidance on our website for more detail and tips on how to best make your application and prepare for interview.

Please ensure you have submitted your application in full ahead of the deadline listed below. Unfortunately, we won't be able to consider late applications.

Selection timetable

• Closing date: 01 November 2026
• Sifting: Week commencing 02 November 2026
• Interview date(s): Week commencing 09 November 2026

Assessment process

Sift Stage - Blind Sifting

We operate a blind sifting model to eliminate bias. All candidate identifying information will be removed from applications.

At sift stage we will assess your application (CV and personal statement) against essential criteria 1,2,3 & 4 listed above. Please ensure you provide enough evidence in your application form to demonstrate how you meet the criteria.

Use your cv and personal statement to address the below criteria and tell us how your experience, skills and knowledge meet them:

• Lead criterion : Experience of coordinating and delivering a regulatory price setting process, including planning and co-ordination of projects.
• Proven ability to develop and apply policy using qualitative and quantitative analysis to assess evidence and develop well supported policy options and recommendations, with a particular focus on regulation and utility sectors.
• Excellent stakeholder management skills, able to influence and build relationships with a range of internal and external stakeholders to a very senior level.
• Extensive experience working in the regulatory and utility sectors, ideally with a focus on price determinations and regulatory reporting.
• Please note that in the event of receiving a large number of applications, a pre-sift may take place on just the lead criterion.
• * If a high volume of candidates meet the minimum pass mark at sift stage, we will only progress the highest scoring candidates to interview. Candidates not invited to interview, who have achieved the minimum pass mark, will be placed 'on hold' until the final stage of the assessment process is completed. Should the role/s remain unfilled, candidates placed 'on hold' may be invited to interview in merit order.

Feedback will only be provided if you attend an interview or assessment.

Artificial Intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. For further information on appropriate/inappropriate use of AI see the Civil Service guidance. Please note this guidance refers to ' Civil Service Success Profiles' Civil Service assessment framework. At Ofwat we do not use this in our assessments - please refer to our Framework for Success as listed above.

Interview Stage - Transparent Interviews

At interview stage we will test against essential skills, experience, knowledge and attributes set out above.

Our transparent interview process involves candidates receiving a selection of attribute-based questions in advance. This has been proven to help neurodiverse candidates and others to perform better at interview and is part of our inclusive culture.

You can read more about attributes and our Framework for success here.

Please note that the interviews will be conducted via video conferencing software

Please ensure anything you present in your interview answers is factually accurate, and you are not presenting the ideas and experience of others, or generated by AI, as your own. You may expect follow up questions.

It may be necessary for a second stage interview, which will be communicated to the successful candidates, if required.

If the assessment process identifies more appointable candidates than roles available, a reserve list will be created for 12 months from which further appointments in merit order can be made.

If you have any queries about any aspect of this role, selection process, or you require any reasonable adjustments, please email recruitment@ofwat.gov.uk.

Feedback will only be provided if you attend an interview or assessment.