About the job

Summary

Help us shape a better and fairer energy sector.

As the regulator for the gas and electricity sectors, the work of Ofgem has never been more important. Currently faced by the most complex challenges, we are focused on delivering better outcomes for both people and businesses. It is essential that we have an ambitious team working on achieving this goal – and as a member of our directorate, you will be at the heart of this work.

Working within the Market Intelligence & Oversight (MIO) team, you will ultimately ensure the energy sector is working better for UK consumers. This team are responsible for monitoring all aspects of the wholesale energy market, and delivering data and insight that informs Ofgem’s policy development and ensures we are prepared for potential ‘security of supply’ events. We also take action on serious compliance issues involving market manipulation and insider trading.

Taking the lead in conducting quantitative and qualitative analysis of wholesale markets, you will monitor wholesale energy markets for key trends and for potential breaches of REMIT (Regulation on Wholesale Energy Market Integrity and Transparency), and support investigations into market abuse . Your work would extend from the analysis of wholesale market fundamentals, transaction data and communications data through to developing our monitoring activities. This is an immensely varied and nationally-important role.

It is absolutely essential that you are a team-player and you have good verbal and written communication skills. You will be happy to work collaboratively both with internal and external stakeholders such as National Grid ESO and BEIS. With well-developed analytical capabilities, you will be able to devise evidence-led conclusions based on the analysis of both quantitative and qualitative information. Crucially you will be comfortable identifying potential risks and scrutinising complex policies. If you also have some sector knowledge, economics expertise or coding experience using tools such as Python, R and SQL, that would be beneficial, though this is not strictly essential.

With every day presenting you with a great deal a variety, we will ensure you have the support you need to meet your immediate and long-term goals. We will also provide you with a competitive benefits package and we welcome candidates from all backgrounds, especially those from underrepresented groups. While this is a full-time role, flexible working patterns and job shares are welcome.

Job description

The Market Intelligence & Oversight (MIO) team promotes and protects the integrity and transparency of wholesale gas and electricity markets so that they work for GB consumers. The team is responsible for monitoring all aspects of the wholesale energy market in GB.

The team’s two major functions are:

1. Providing data, insight and understanding of wholesale energy markets for decision makers and external stakeholders. This includes ensuring Ofgem’s readiness for a possible future security of supply event by providing expert guidance on market activity.

2. Taking action, including enforcement where necessary, to address breaches of REMIT (Regulation on Wholesale Energy Market Integrity and Transparency). This includes prohibitions on market manipulation and insider trading. This requires understanding market fundamentals, complex trading strategies and using data analysis to support that.

This is a really exciting opportunity to work in energy markets at a time of huge system change as we transition to Net Zero. This role covers on a wide variety of issues across wholesale markets, with the opportunity to use unique datasets relating to market functioning to make the market work better for consumers.

You will liaise with colleagues in other parts of Ofgem, including policy and legal teams. You will also be engaging with Ofgem’s stakeholders such as National Grid ESO and BEIS (on any short-term security of supply issues), the Financial Conduct Authority, Council of European Energy Regulators (CEER) and other national regulatory agencies (NRAs) in Europe, as well as gas and electricity stakeholders.

Responsibilities

•Analysis: Lead on quantitative and qualitative analysis of wholesale markets and to support investigations into market abuse.

•Data: Supporting the development and more advanced use of data within the team.

•Coordination: Effectively working with colleagues across Ofgem and key external stakeholders, notably National Grid ESO, BEIS, other regulatory organisations.

•Policy: Assist with policy development through use of wholesale data and market expertise. Ensure REMIT policy and guidance delivers the best outcome for GB consumers.

•Wider contribution: Contribute to the delivery of wider projects in the Enforcement and Emerging issues division and Ofgem

Behaviours

We'll assess you against these behaviours during the selection process:

• Changing and Improving
• Making Effective Decisions
• Working Together

Technical skills

We'll assess you against these technical skills during the selection process:

• Please see Candidate Pack for details.

Benefits

Ofgem can offer you a comprehensive and competitive benefits package which includes; up to 30 days annual leave. Excellent training and development opportunities. The opportunity to join the Civil Service pension arrangements which include a valuable range of benefits. Flexible working hours and family friendly policies. Restaurant and subsidise gym (London only). Interest free season ticket loan.