Economic Analyst

About the Role

Great Britain is at a critical point on its path to net zero and decarbonisation of the energy system is at the heart of this journey. Now, more than ever, energy strategy and policy must go further and faster to ensure that we not only deliver against the Government’s net zero ambitions, but that this is done in a way that ensures that energy is reliable, affordable, and fair for all.

The Office of the Chief Economist (OCE) is an important and relatively new capability for NESO, critical in helping NESO to navigate the complexities of the energy transition and towards Net Zero. It does so by bringing together a whole systems view of the UK's energy landscape and combining this with expert economic analytical capability and insight that inform the decisions, positions, advice, and recommendations that NESO makes.

As an Economic Analyst, you will be an integral part of the Office of the Chief Economist, which sits within the multidisciplinary Strategy and Policy directorate. Your role will involve supporting with economic analysis across various areas of NESO, considering economic welfare aspects, macroeconomic factors, economic trends, regulatory and market economics, and consumer behaviour influences. You will also play a key role in analysing and forecasting economic costs within the evolving energy landscape.

This comprehensive approach facilitates a holistic view of the energy system and informed decision-making, providing valuable insights and analysis for an economically sound energy market transition.

This role is based in Warwick or Wokingham on a full-time basis. We continue to offer hybrid working from office and home with an expectation to be in the office at least 1 day per week. If not based at Warwick then occasional (at least 1 day per week) travel to Warwick may be required.

• Contribute to various projects within the Office of the Chief Economist, providing economic analysis and modelling on topics related to the energy sector, including cost-benefit analysis, market trends and forecasts, policy evaluation, and impact assessments.
• Investigate the economic drivers and outcomes of decarbonisation, considering various aspects such as economic welfare, macroeconomic factors, economic trends, regulatory and market economics, and consumer behaviour influences.
• Conduct literature reviews, data gathering, and analysis, and contribute to the development of economic methodologies for various research projects.
• Proactively take the lead on completing tasks and lead analysis work as appropriate, collaborating with stakeholders across NESO.
• Attend conferences, webinars, research events to stay up to date on the latest industry insights, economic analysis and emerging policies.
• Conduct economic analysis across different sectors in the energy industry, such as heating, transport, and generation, identifying and quantifying economic factors behind net zero targets and policies.
• Apply whole system thinking whilst drawing conclusions from economic analyses and insights, and communicate these clearly and succinctly, both internally and externally.
• Assist in the preparation of briefing notes and submissions for ministers or economic reports for executives as needed.
• Participate in the development, content creation, and maintenance of an internal knowledge-sharing platform where economic insights (articles/blogs), research findings, and best practices can be stored and disseminated across the organisation.

Applicants must have the right to work in the UK by the start of employment. Visa sponsorship may not be available for this role and will be considered in line with business requirements.

• Curious and forward thinking:
  An interest in the broader energy landscape and demonstrates a proactive approach to learning and staying updated with industry trends. Additionally, shows initiative by taking the lead on completing tasks.
• Research and Analytical skills:
  Ability to conduct desktop research and analyse data from a broad range of sources (macroeconomics, industry trends, energy supply / demand data, economic trends, etc.). Seek to draw key conclusions and proactive to provide initial insights.
• Strong numeracy and numerical analysis skills are vital.
• Effective Communication:
  Clear and concise verbal and written communication. Can explain complex topics simply and build relationships with employees at all levels.
• Structured problem solver:
  Enjoy solving analytical and empirical problems with a focus on data related challenges and solutions.
• Computer literate:
  Capability across the MS Office suite, particularly MS Excel to carry out economic analysis. Experience of other programming languages such as Python, SQL, Power BI is advantageous but not essential.

Knowledge of macroeconomics, microeconomics, applied economics, market economics, regulatory economics, econometrics, and / or behavioural economics. An awareness of the GB whole energy system, knowledge of the structure, key…