Head of Economic Regulation

Head of Economic Regulation with Smart DCC London only FTC: 18 months Role DCC Licence was awarded in 2013 and has recently been extended to September 2027. This is an important time for the organisation to think about its role in the coming years and how it can support the future delivery and operation of the smart metering network. The energy industry has already made a significant investment in the DCC platform, creating a unique and secure network that will reach every home in Great Britain, and the DCC will continue to play a key role in the delivery of Government’s Net Zero agenda. Energy policy will have a fundamental role in responding to the issues of climate change, the energy crisis (including fuel poverty) and ongoing cost of living challenges – and the role smart metering can play in responding to these. Our annual price control submission is one of the regulatory instruments (together with DCC’s Business Development Plan) that enables the company to articulate our strategic journey and how we intend to deliver it. Under the current Licence, the price review process is conducted on an ex-post basis, whereby Ofgem reviews DCC’s costs after they have been incurred. Ofgem is currently consulting on the structure of the new Licence as well as the transition arrangements to deliver it, including an extension of the current Licence. The new Licence will include an ex-ante price control regime, whereby DCC’s forecast costs are reviewed and agreed in advance of undertaking activities. This is a fundamental change and requires DCC to build new capability, including within the Economic Regulation team. DCC is therefore interested in recruiting an individual with significant experience of developing and operating price control structures, including the relevant performance management and incentive regimes. This role offers an exciting opportunity to deliver the high value price control process alongside shaping the future regime to ensure the transition from the ex-post to ex ante frameworks operates in a controlled and planned way. This will require proactivity, resilience, and agility of mind Working closely with members of the ExCo, DCC’s Senior Leadership Team (SLT) and the wider Strategy and Regulation (S&R) team, the Head of Economic Regulation will have the following key areas of accountabilities What will you be doing? ·      To lead on the delivery of DCC’s annual price control reviews ·      DCC operates in a heavily regulated environment and will transition from ex post price controls to an ex-ante or hybrid structure in the near future. The Head of Economic Regulation will lead on developing, submitting and assuring DCC’s annual price control submissions under these structures. ·      The end-to-end process for delivering this will including preparing the annual submission, managing clarification questions, and responding to Ofgem’s consultation to influence Ofgem’s final determination of DCC’s allowable costs. ·      The Head of Economic Regulation will also lead on aspects of the ongoing process of reviewing and improving DCC’s internal price control processes and our approach to engaging with stakeholders (including Ofgem and customers) in relation to this. ·      The Head of Economic Regulation will attend the ExCo-level Price Control Risk Committee (PCRC), leading the price control risk assessment process and contributing to ensuring mitigations are identified and implemented. ·      The ex-ante price control process will require economic modelling to determine the “economic and efficient” cost base and associated KPIs, incentives and penalties and discussing this with Ofgem as part of the review process. ·      It will also require the development and implementation of new in-period processes for monitoring performance, ‘re-opening’ the cost base, and conducting a retrospective ‘true-up’ of costs at the end of the reporting period. The Head of Economic Regulation will play a key role in supporting the Director of Economic Regulation and Director of Ex Ante in designing and implementing these processes. ·      A key risk to DCC over the coming period will be managing the transition from ex post to ex ante price controls alongside the extension of DCC’s current license, and appointment of a new license holder on a ‘not-for-profit’ basis. Managing this risk is a key success factor for this role and will require extremely close working across Economic Regulation, S&R colleagues, License Renewal, Finance and other internal stakeholders. ·      The Head of Economic Regulation will also oversee support provided by external partners in delivering these outcomes. ·      To engage, and support the Director of Economic Regulation in engaging, with the Board, CEO and ExCo members, for example via high quality briefing papers. ·      To support DCC’s engagement with Ofgem in relation to both price control and the changes required to DCC’s economic regulatory framework. This will need to be defined working closely with other areas of the S&R team. ·      To provide (proactive) expert advice across DCC on the current (and future) economic regulatory framework to ensure that the business fully understands the economic regulatory requirements within a regulated monopoly. What are we looking for? ·      The successful candidate will have significant experience in providing strategic advice to senior level of decision-makers in regulatory business (or Government). ·      The successful candidate will be able to provide thought leadership for the development of new regulatory regimes / regulatory changes and the ability to advise on how best to achieve the organisation’s objectives whilst operating within the regulatory framework. ·      They will have excellent communication skills and senior stakeholder management expertise allowing them to tailor communications to explain complex issues concisely and clearly. ·      The successful candidate will have demonstrable experience of authoring high-quality documentation and briefing notes (including Board papers). They will be experienced at working in a complex and heavily regulated environment with multiple stakeholders, and in collaborating with multi-functional teams. ·      Candidates will need to demonstrate strong leadership and coaching skills to help others learn and be able to manage and prioritise time and workload and adapt to changing priorities. Other skills and experiences include: ·      Proven track record of building relationships and collaborating with Government and regulators. ·      Ability to influence at senior levels in the organisation through developing and communicating robust, fact-based positions. ·      Development of delivery plans to implement high-level strategies. ·      Proven track record in leading stakeholder mapping and engagement. ·      Extensive experience with ExCo and Board level interaction. About the DCC: At the DCC, we believe in making Britain more connected, so we can all lead smarter, greener lives. That desire to make a difference is what drives us every day and it wouldn’t be possible without our people. Each person at the DCC brings a special kind of power to the business, and if you join us, we’ll give you the means to unleash yours. Here, we depend on each other and hold each other accountable. You have the power to challenge and make change, to take the initiative and enjoy real responsibility. Whether it’s doing purposeful work, helping us grow or building the career you want – we’ll give you the support to do it all. Our secure network for smart meters is transforming Britain’s energy system and helping the country’s fight against climate change: we want you to be part of our journey. Company benefits: The DCC’s continued success depends on our people. It’s important to us that you enjoy coming to work, and feel healthy, happy and rewarded. In this role, you’ll have access to a range of benefits which you can choose from to create a personalized plan unique to your lifestyle. Complete your application, so we can learn more about you. Your application will be carefully considered, and you’ll hear from us regarding its progress. If you can any queries before you apply please contact Jessica Day. Join the DCC and discover the power of you. What to do now Choose ‘Apply now’ to fill out our short application, so that we can find out more about you.  As a Disability Confident member, DCC is committed to ensuring an inclusive and accessible recruitment process. If you require any reasonable adjustments, need a copy of this job advert in an alternative format. Capita Opportunity Statement: The parent company, Capita Plc*, are a leading UK provider of technology enabled business services. We’re supporting and improving the lives of millions of people every day and we can only do this with the right people in place, working towards a shared goal. We encourage an open, honest working environment where everyone can be true to themselves, and people are valued for their differences. We’re always challenging each other to learn and improve, because we know when we work together, we can deliver better outcomes. We work across such a huge range of businesses and sectors, that you’ll have the opportunity to grow and develop your career in any number of directions. You’ll also become part of a network of 63,000 experienced, innovative, and dedicated individuals across multiple disciplines and sectors. There are countless opportunities to learn new skills and develop in your career, and we’ll provide the support you need to do deliver. Our purpose is to create a better outcome for you