We are looking for an experienced leader with wholesale energy market expertise to step into an exciting, cross-cutting head of team role. You will lead our Market Intelligence and Oversight team to monitor the wholesale market, progress enforcement investigations where appropriate and input into important wholesale policy development. This role sits within the Conduct and Enforcement portfolio, which is responsible for Ofgem’s oversight of retail and wholesale markets, including taking action to address or prevent problems arising, and for all of Ofgem’s enforcement activity, ensuring strong signals are sent to the market about the standards that are expected. Importantly, you will also need to work extremely closely with a wide range of teams across Ofgem, and particularly closely with wholesale policy colleagues in the Systems & Networks directorate. A critical part of this role is ensuring these linkages are well managed. The Market Intelligence and Oversight team promotes and protects integrity and transparency in the wholesale energy market. We do this through engaging and educating stakeholders, monitoring their actions, investigating potential licence and regulation breaches, and taking appropriate action where necessary.
- The team is responsible for monitoring all aspects of the wholesale energy markets in GB and provides data, insight and understanding on wholesale energy markets for range of teams across Ofgem.
- In this role you will have responsibility for assessing and reacting to short term security of supply issues.
- You will play a key role in helping to ensure that Ofgem has an excellent understanding of how the wholesale market is performing and on developing market metrics and making sure senior decision makers are properly informed.
- You will also be responsible for progressing enforcement casework.
- An important part of your role will be as team leader for our high-performing team of wholesale and investigations experts.
- This is a fantastic, close-knit team and we are looking for someone who will build on this and continue to provide an outstanding work environment, including commitment to both individual and team development.
- As a member of the wider management team, you will also be responsible for showing leadership and supporting a positive work environment in the Conduct & Enforcement portfolio, the wider Consumers & Markets directorate and across Ofgem as a whole.
- Your strong communications skills and professional approach will allow you to confidently engage stakeholders and foster productive working relationships.
- Market monitoring & reporting: Ensure a system is in place for effective day-to-day monitoring of gas and electricity fundamentals – this includes leading monitoring of wholesale market rules for for breaches of REMIT, Secure & Promote and the Transmission Constraints Licence Condition (TCLC) and codes and licences.t>Ensure the team effectively analyse alerts and suspicious transaction reports.
- Oversee wider wholesale market monitoring, including Ofgem’s wholesale market competition analysis.
- As an output of the team’s monitoring work you will also oversee and coordinate Ofgem’s input into wholesale market monitoring reports, wholesale market indicators and Ofgem’s annual State of the Market report.
- Investigations and cases: Take forward investigations of breaches of REMIT and the TCLC, ensuring they are well-managed and robust.
- Demonstrate efficient decision-making following alerts triaging on whether to escalate to a “case review” stage, and subsequently whether to recommend launch of an investigation.
- Ensure investigations are carried out as quickly and efficiently as possible, that each investigation team has necessary skills, implements a suitable project plan, follows procedures appropriately and remains focused on penalising and deterring market abuse.
- Inputting to wholesale policy: Ensure your team works closely with the wholesale policy teams (particularly in the Systems & Networks directorate) to ensure that Ofgem wholesale market policy is evidence based and informed by the latest market developments.
- Help develop wholesale market understanding and expertise across the organisation.
- You will also need to lead the team in engaging constructively with ACER and other national regulatory authorities to ensure that Ofgem’s obligations under REMIT are met and to contribute to wider REMIT policy development - including following EU exit.
- Security of supply: Lead Ofgem’s analysis of short-term risks to electricity and gas security of supply, including scrutinising forecasts provided by National Grid, Summer and Winter Outlook reports, and publication of statutory security of supply reports.
- This also includes communication of security of supply issues with senior decision makers and external stakeholders as well as oversight of ad hoc briefing on security of supply.
- Stakeholder engagement: Personally, and through a team, ensure that internal and external stakeholders are well-engaged and sighted on key market developments.
- Build strong, collaborative working relationships (see more on this below).
- Team and corporate leadership: Lead and oversee a multi-disciplinary team of economists, investigators and policy experts.
- Build and develop wholesale market monitoring and investigative expertise.
- Set out clear objectives and maintain a high-performing team.
- Contribute to cross-Ofgem working and initiatives.
- Ensure your team has good visibility and strong linkages across the organisation.
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