The water sector regulator is looking to set up a panel of experts in economic regulation, development of markets and/or corporate finance to help support the development of its regulatory approach to the next Price Review in 2024 and future assets and resources.
Ofwat is inviting applications for advisory panel roles which will operate across its work, with a particular focus on three clusters:
- PR24 and beyond – which will shape and design the 2024 price review (PR24) and PR29 to accelerate progress towards the regulator’s long term goals for the sector
- Future assets and resources - will help ensure future major infrastructure and water resource needs are delivered in a cost effective and environmentally beneficial way
- Regulators’ Alliance for Progressing Infrastructure Development (RAPID) - which will identify and address issues relevant to the development of major water supply infrastructure projects and analyse the feasibility of strategic water supply schemes.
The Alliance was set up in 2019 formed of a joint team made up of the three water regulators Ofwat, Environment Agency and Drinking Water Inspectorate. To date 17 schemes have been proposed to RAPID – Ofwat is now looking to appoint experts in infrastructure development to support the RAPID work programme in the following areas:
- proven experience of managing the delivery of big infrastructure in the UK regulatory context
- expertise in infrastructure development internationally and the development of infrastructure to serve multiple benefits and to benefit / be funded by several parties
- commercial experience of infrastructure development, including investment and corporate finance expertise
Ofwat is also looking for expertise in the development of regulation to make markets work more effectively for at least one of the roles.
Outlining the requirements for candidates, Ofwat said:
“The candidates need not have specific experience of water infrastructure however this would be an advantage. We would expect panel members to be acknowledged experts in their chosen field of activity, and can provide thought leadership or insights from a range of regulatory environments and be able to bring considerable experience and expertise to bear on the issues that Ofwat will need to address going forwards.”
Experts appointed to the panel can expect to often be involved in a variety of activities spanning the most complex and critical parts of the regulatory framework, including:
- thought pieces on individual topics, which may be published to support Ofwat’s emerging thinking
- attending [virtual] meetings to provide input on emerging thinking
- discuss, review and comment on the development of the regulatory framework.
- reviewing parts of documents to provide and challenge work as it develops
- providing perspectives on emerging issues related to the infrastructure schemes included in the RAPID process
Work will be commissioned on an individual basis via a call-off contract, with a capped number of days per year. The contract is likely to run until December 2022 – however, there will be no guaranteed minimum number of days.
Closing date for applications is 8 December 2020- click here to download the candidates’ information pack.
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