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- Tasks: Analyze economic data and trends to support decision-making in the energy sector.
- Company: Join Northern Powergrid, powering 8 million customers in the Northeast and Yorkshire.
- Benefits: Enjoy a competitive salary, flexible working hours, 25 days holiday, and a 15% annual bonus.
- Why this job: Be part of a sustainable energy solution and contribute to innovative technology advancements.
- Qualifications: Degree in Economics or related field; experience in economic analysis and regulatory frameworks required.
- Other info: Applications are open until February 10, 2025; diversity is valued in our hiring process.
The predicted salary is between 36000 - 54000 £ per year.
Economic Analyst
Reference: R6984
Location: Newcastle or Castleford
Directorate: Economic Analysis
Do you want to help power your career and be part of an evolving energy industry?
The energy industry is advancing with investment in smart technology innovation and Northern Powergrid, as the company responsible for powering everyday life for 8 million customers across 3.9 million homes and businesses in the Northeast, Yorkshire and northern Lincolnshire, is at the forefront of delivering a power network that meets the region’s needs, now and in the future.
Our vision is to be the best energy company in serving our 3.9 million homes, whilst delivering a sustainable energy solution. In this role you will be responsible for interpreting data, performing economic research, and analysing trends to help inform business decisions or policy recommendations within the energy sector.
Along with a competitive salary up to £45,000 we also offer great benefits such as;
- Enrolment into our pension scheme
- 25 days holiday plus bank holidays
- Agile working including flexible working hours
- 15% Annual Bonus
Key Responsibilities
The successful candidate will:
- Develop and maintain the company methodologies for carrying out quantitative and economic assessments of the energy sector, to support internal regulatory and policy decision making and external engagement.
- Support Economists, and the wider team, in identifying and defining our policy priorities and relevant supporting analysis.
- Undertaking economic modelling analysis.
- Undertaking research and evidence gathering.
- Manage the sourcing, organising and processing of cost and market data to carry out specific analysis across our regulated and unregulated markets.
- Monitor and report on the state / health of the sector, based on financial / sectoral data trend analysis.
- Interacting with economists/strategists across internal and external teams to maintain a joined-up view of regulated and unregulated energy markets.
Key Competencies
- Great interpersonal skills, having the ability to forge strong relationships with key internal and external stakeholders.
- Experience of collecting data and performing preliminary analysis.
- Experience of analysing economic scenarios, evaluating policies and providing insights.
- The ability to proactively prioritise, plan and deliver complex subject matters that require critical risk and opportunity assessment.
- A passion and ability for the practical application of energy economics.
Qualifications and Attributes
- Qualified to degree level (or equivalent) in Economics, Mathematics, or related subjects.
- Experience of managing solutions that involve complex problem solving and/or critical thinking in the context of economic regulation and/or price reviews.
- Understanding of UK economic regulation, price reviews and regulatory frameworks in the energy sector.
- The ability to clearly and concisely communicate complex concepts/subject matter – both orally and in writing – to influence key decision-makers.
- Experience of preparing or evaluating business plans of regulated companies, including in relation to cost allowances, performance targets, incentives and/or regulatory finance issues.
- Experience in dealing with complex economics projects/analytical models in consulting, industry, or government.
- Previous experience working with or alongside a Distribution Network Operator.
Post Date: 8 January 2025
Closing date for applications: 10 February 2025
Applicants are considered on the basis of their suitability for the post irrespective of sex, marital status, sexual orientation, gender re-assignment, race, age or disability, in accordance with the Equality Act 2010.
Northern Powergrid | Economic Analyst employer: Northern Powergrid
Contact Detail:
Northern Powergrid Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Northern Powergrid | Economic Analyst
✨Tip Number 1
Familiarize yourself with the latest trends in the energy sector, especially regarding economic regulation and price reviews. This knowledge will not only help you understand the role better but also allow you to engage in meaningful conversations during interviews.
✨Tip Number 2
Network with professionals in the energy industry, particularly those who work in economic analysis or with Distribution Network Operators. Attend industry events or webinars to make connections that could provide insights and potentially lead to referrals.
✨Tip Number 3
Brush up on your data analysis skills, particularly in economic modeling and trend analysis. Being able to demonstrate your proficiency in these areas during discussions can set you apart from other candidates.
✨Tip Number 4
Prepare to discuss specific examples of how you've applied economic concepts in real-world scenarios. Highlighting your practical experience will show your ability to contribute effectively to Northern Powergrid's objectives.
We think you need these skills to ace Northern Powergrid | Economic Analyst
Some tips for your application 🫡
Understand the Role: Take the time to thoroughly read the job description for the Economic Analyst position. Understand the key responsibilities and competencies required, as this will help you tailor your application to highlight relevant experiences.
Highlight Relevant Experience: In your CV and cover letter, emphasize your experience in economic analysis, data interpretation, and any previous work with energy economics or regulatory frameworks. Use specific examples to demonstrate your skills and achievements.
Showcase Your Skills: Make sure to showcase your interpersonal skills and ability to communicate complex concepts clearly. This is crucial for the role, so provide examples of how you've successfully collaborated with stakeholders or influenced decision-making in past positions.
Tailor Your Application: Customize your cover letter to reflect your passion for the energy sector and your understanding of the challenges it faces. Mention how your background aligns with Northern Powergrid's vision and how you can contribute to their goals.
How to prepare for a job interview at Northern Powergrid
✨Understand the Energy Sector
Make sure you have a solid grasp of the current trends and challenges in the energy sector, especially regarding economic regulation and price reviews. This knowledge will help you demonstrate your passion for energy economics during the interview.
✨Showcase Your Analytical Skills
Prepare to discuss specific examples of how you've collected data, performed analysis, and interpreted economic scenarios. Highlight any experience with economic modeling or evidence gathering that aligns with the responsibilities of the role.
✨Communicate Clearly
Practice explaining complex economic concepts in a clear and concise manner. The ability to communicate effectively with both technical and non-technical stakeholders is crucial for this position.
✨Build Relationships
Demonstrate your interpersonal skills by discussing how you've successfully collaborated with internal and external teams in the past. Emphasize your ability to forge strong relationships, as this is key to influencing decision-makers.
