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Senior Economist
4 months ago
Senior Economist
ScottishPower HQ, Glasgow
Salary starting from £47,880 per annum plus excellent benefits
Flexible Hybrid Working
Closing Date: 8 April 2024
- Help us create a better future, quicker_
SP Energy Networks (SPEN) are working to achieve network targets set by the Scottish and UK Government as part of our journey to Net Zero. Our focus is on harnessing technology and innovation to create the networks of the future. SPEN is building a dynamic network to meet the changing demands for electricity and increasingly, renewable electricity - safely, securely, and sustainably in the communities we serve.
The Senior Economist is vital in enabling SPEN to achieve financial and economics deliverables associated the price control planning process and provides essential support in the annual re-calculation of and accounting for c£1.70 billion of allowed annual revenue during RIIO-2.
As a part of the Network Planning & Regulation team, they advise on all regulatory licence conditions and revenue modelling matters including business plan drafting and submissions, and ensure robust financial controls are maintained for our regulated businesses (SPT, SPD & SPM).
- What you’ll be doing_
As a Senior Economist, you will be accountable for:
- Leading the economic and financial modelling for a range of financial parameters and scenarios to gauge the impact of each.- Representing the business in industry and stakeholder meeting/events/calls and provide detailed feedback and analysis to management where required.- Assisting in the development and drafting of responses and papers on key financial and regulatory economic parameters and engage with consultants where required.- Preparing scenario modelling for each financial parameter in the overall financial package for the price control.- Engaging with all key stakeholders involved in the price control planning process. Accurately present complex finance economics and modelling data to a range of stakeholders.- Supporting the preparation of price control financial dossier and investment approval.- Drafting responses to Ofgem publications, consultations, industry reports and stakeholder questions.- Supporting financial modelling, scenarios, and stress testing for our price control business plan.- Supporting the price control licence development to ensure methodologies and mechanisms agreed with Ofgem are accurately reflected in the licence.- Assisting the Licence and Revenue team with any business-as-usual modelling, reporting or analysis where required, such as Regulatory Financial Performance Reporting (RFPR), annual iteration process, annual pricing process, RRP revenue returns or internal reporting requirements.- Preparing and leading where appropriate in any ad hoc financial modelling, reporting or analysis to support the price control process, licence and revenue team or wider NP&R department.- Observing commitments and meet deadlines concerning departmental governance. For example, team meetings, performance management, Data Assurance and Risk Register leading to NP&R operational excellence.- Following all assurance procedures to ensure all submissions and are fully reviewed for accuracy and completeness.
- What you’ll bring_
The postholder will have strong interpersonal skills and be able to effectively communicate (written and verbal) including interpreting and sharing data/information to all, they will have excellent collaborative and problem-solving skills.
It is essential that the individual has an understanding and awareness of key business drivers and commercial context in which SPEN operates.
To be successful, you will have:
- Relevant degree i.e. economics, finance, mathematics.- Strong understanding of financial matters and the external environment.- Understanding of regulatory and economic issues relating to RIIO price control framework.
- What’s in it for you_
As well as a competitive salary which is reviewed annually, you can also enjoy a number of other benefits. With our pension scheme, we’ll double match your contribution up to a company contribution of 10%.
At ScottishPower, we believe it’s the little things we do in life that make a big difference. From helping you look after your family’s wellbeing, save for your future and take personal steps for climate action - our benefits are designed to help you do just that - so that you have everything you need to take care of your world - today and tomorrow. That’s why our benefits include:
- 36 days annual leave.- Holiday purchase - perfect your work/life balance with extra annual leave.- Share Incentive Plan and Sharesave Scheme.- Payroll giving and charity matched funding.- Technology Vouchers - save more and spread the cost of your technology purposes.- Count us in - pledge to reduce carbon emissions and help fight climate change.- Electric Vehicle Schemes - to help you transition to green/clean driving.- Cycle to Work scheme and public transport season ticket loans.- Opti
