Principal Economist - Business Retail Market

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 Principal Economist - Business Retail Market to join our Business Retail Market Team within the Markets and Changing 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.

We are seeking a Principal Economist join our Business Retail Market team. The team has a multi-faceted programme of work aimed at improving the Business Retail Market so that it delivers better outcomes for customers, society and the environment. The team aims to do this through initiatives on regulatory customer protections, improving company performance, and monitoring and enforcement work. All our work here involves extensive engagement with external stakeholders.

Now is a particularly exciting time to join the team as we are at an important juncture in the development of the market. We have recently established revised customer protections, and we are currently reviewing price and non-price protections for customers in the business retail market. We are stepping up our market monitoring and work to ensure companies comply with their obligations with respect to customer protections. Water scarcity and resilience is becoming increasingly important for the sector, and the team is working with industry to understand how the business retail market can contribute to improved water efficiency. In addition to this, we are also working with Government (Defra) on water sector reform, new legislation, and what this may mean for the business retail market.

This role has an important and valuable contribution to enable us to deliver on our goals and regulatory commitments. As a Principal Economist in the Business Retail Market team, you will lead and support a number of strategically important workstreams. These are likely to include leading Ofwat's role in analysing and understanding market evolution and the development of competitive dynamics, understanding, monitoring and, where relevant, strengthening customer protections, improving trading parties' support for the market, and working with industry and stakeholders – including Defra - to understand, prepare for and deliver change. As you will be part of a small and dynamic team, you will also work flexibly across the team's various functions relating to the Business Retail Market. You will also represent Ofwat on industry Committees and Working Groups as appropriate.

Key deliverables:

In this role you will be expected to:

• Lead analytical and policy development work to deliver, among other things, ongoing understanding of retail market developments and competitive dynamics, and work underpinning the revision of retail price caps.
• Lead or contribute to the development of policy and process to support delivery by the Business Retail team and working across Ofwat as appropriate. This will include, for example, leading policy and analytical work regarding our approach and decisions on customer protections, and on issues raised as a part of sectoral reform.
• Help deliver the portfolio of code modification decisions and/or policy projects. This may include managing processes and team members, and developing policy recommendations, with a view to ensuring Ofwat decisions on Code modifications are made and presented in a robust manner.
• Provide visible leadership and guidance to members of the Business Retail team. You will be expected to support, empower and be a role model for junior members of the team, to help them develop skills and experience and to continue to support all members’ professional development. As a leader in Ofwat, you will also role model our values and ways of working and be an active contributor to the corporate activities that make Ofwat a great place to work.
• Act as a People Leader and/or Project Manager, taking on budget management responsibilities and, where appropriate, people management responsibilities in line with Ofwat’s Governance Framework.
• Create and champion an inclusive working environment that supports growth, well-being and continuous improvement in our delivery.
• Strongly contribute to Ofwat’s wider leadership, by engaging, contributing and supporting our work to make Ofwat a great place to work.

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: 23.55 on 03 November 2026
• Sifting: 04, 05, 06 November 2026 & week commencing 09 November 2026
• Interview date(s): Week commencing 23 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, and 5 listed below. Please ensure you provide enough evidence in your application form to demonstrate how you meet the criteria.

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

• Lead Criterion: Degree level qualification in economics and/or a discipline with significant economic content.
• Lead Criterion: Demonstrable experience and knowledge of microeconomic analysis and markets, competition and regulation, and the benefits they can deliver for customers. This includes the identification and application of relevant economic, legal and policy frameworks and requirements.
• Outstanding analytical and problem-solving skills, including experience of identifying, analysing and accurately interpreting a range of data and insights to inform evidence-based decisions and solutions for complex problems.
• Skills and experience in formulating, presenting, and writing clear and concise evidence-based advice to inform policy making, decision building and recommendations, for a range of audiences and to encourage and respond to constructive challenge to build confidence in decision-making
• Ability to effectively plan, prioritise and deliver large projects and programmes of work both directly and by managing multi-disciplinary teams, and where necessary external advisors/consultants.
• Please note that in the event of receiving a large number of applications, a pre-sift may take place on just the two lead criteria.
• * 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.

Interview Stage - Transparent Interviews and Presentation

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 (Microsoft Teams).

As part of the interview process, we will require a written task to be completed and submitted ahead of the interview. Further details will be provided to candidates upon invitation to interview.

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.

'Near-miss' candidates (candidates who have performed well at interview stage but haven’t scored high enough for the advertised Principal band) may be considered (in merit order) for a Senior Associate grade post – a band lower than Principal. Further details will be provided to candidates as needed.

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.