The Regulatory Economics team works on a diverse set of economic issues, providing rigorous analysis to underpin the development of policy and support decision-making. Much of our work is directed at the regulation of Network Rail, including designing the regimes for access charges and incentive payments; and conducting cost analysis, benchmarking it against comparator companies and analysing its efficiency. We also advise teams across ORR on economic matters relating to track, station or depot access, such as the impact new rail services proposed by train operators may have on relevant markets and assessing access disputes. Your work is likely to contribute to the 2023 periodic review of Network Rail (PR23).
Essential Requirements In this specific role within the team, you will:
Lead on the design of incentive mechanisms that encourage Network Rail and train operators to make the right decisions in the interests of railway users.
Provide economic advice to internal and external stakeholders on the development of the future charging and performance incentives framework governing Great British Railways.
Contribute to development of charging and incentive frameworks for High Speed 2.
Manage reviews of charges and incentives for existing infrastructure managers such as High Speed 1, Eurotunnel, Crossrail and Core Valley Lines.
Represent ORR externally, for example on the International Regulators Group and in the wider rail economics community.
You could also have the opportunity to contribute to the team’s wider work, for example:
Design individual track access charges that help incentivise effective infrastructure management.
Apply econometric analysis to understand the key factors that drive infrastructure costs, efficiency and quality of service, and use this information to ensure that monopoly rail bodies are as efficient as they can be.
Use economic models and empirical evidence to predict the behaviour of users and determine the value created by new train service proposals.
Colleagues at this level are generally expected to:
Produce written reports, briefing notes and committee papers; Present analysis, proposals and recommendations to internal and external audiences;
Commission and oversee consultancy projects;
And Contribute to team development through line management, knowledge dissemination and recruitment.