Principal Outcomes
Job summary
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 two Principals to join ourOutcomes Team within Price Review Directorate.
Ofwat's Price Review Directorate is a key team in Ofwat. We set the five-year contracts to ensure water companies provide the services customers pay for.
In December 2024 we published our Price Review 2024 final determinations which support record levels of spending by water companies: 104 billion over the next five years. This gives the sector the opportunity for transformation, delivering better outcomes for customers and the environment. It will also help unlock critical new infrastructure across England and Wales, boosting local growth.
Over the next 12 months the team is:
• Implementing its final determinations for the contracts between customers and companies over the 2025-2030 period;
• Supporting the redetermination process being run by the Competition and Markets Authority for six companies; and
• Developing the new regulatory framework for the next price review, drawing on recommendations from the Independent Water Commission's final report and government's subsequent White Paper.
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.
Job description
The Role
The Independent Water Commission published their final report on the review of the water sector regulatory system on 21 July 2025. While we are entering a period of change, Ofwat still has a lot of important work to do. We remain focused on the day job and ensuring that the 104 billion investment package that we have approved delivers the maximum benefits for customers and the environment. Ofwat remains committed to working constructively with the government and supporting outcomes that are in the best interests of customers, communities, and the environment. Our focus remains the same: delivering strong, independent economic regulation to deliver our vision of a secure and sustainable water sector, acting in the best interests of customers, communities and the environment.
The creation of the new regulator may take up to two years to finalise, during which time we will work closely with the government and other regulators to create a plan for a smooth transition.
We're looking for two Principals to join our outcomes team. The roles are full of influence and exciting challenges.
The outcomes team is key to the shaping the next price review, setting performance targets in key areas and incentivising companies to deliver for their customers. These roles will have a significant impact in securing the best outcomes for water customers in the Price Review 2024 (PR24) period of 2025-2030 and beyond. Given the significant focus on water company performance this is an exciting time to join the outcomes team.
There are 2 key areas that the Principals will lead on:
• Developing our performance commitment levels (PCLs) - the stretching performance targets we set for the sector.
• Developing our outcome delivery incentives (ODIs) - the financial penalties and rewards companies receive based on their performance.
Key deliverables:
In these roles you will be expected to:
• Lead a small team of internal and consultant resources to deliver analysis, reports and policy papers to support internal decision-making and external publications
• Use available information and data to assess whether any change to PR24 PCLs or ODIs is required based on new information and/or unexpected events
• Provide thought leadership in the development of Ofwat's PCLs or ODIs for Price Review 2029 and beyond to set stretching but achievable performance targets for water companies
• Present policy recommendations on complex issues to senior leaders
• Build collaborative relationships with internal and external stakeholders
Person specification
To be successful in this role you will need the below essential attributes, experience, skills and knowledge:
Experience, skills and knowledge
• Lead criterion 1: Significant experience of solving analytical problems, drawing on technical knowledge as well as quantitative and qualitative techniques.
• Lead criterion 2: Strong interest in and aptitude for economic regulation.
• Undergraduate degree in a numeric (or other relevant to the role discipline) and/or equivalent policy experience.
• Experience of managing large projects, including independent consultants.
• Excellent stakeholder management skills, demonstrated by influencing a range of internal and external stakeholders.
• Excellent written and oral communication skills, including the ability to understand and confidently explain analysis in non-technical language.
Attributes
7. You deliver outcomes
8. You are an adaptable thinker
9. You make relationships count
Attributes as per Ofwat's Framework for Success for the relevant salary grade. You can read more about Attributes here.