CHIEF ECONOMIST- Department of Energy, Abu Dhabi
Description
Job Purpose:
The Chief Economist is responsible for managing the development and implementation or robust and modern price controls; driving the efficiency and quality of supply through economic frameworks such as penalties and incentives; and providing general economic guidance to the regulation of the energy sector (Oil & Gas, Electricity). In addition, the Chief Economist is responsible for providing economic input/ advice into incentive frameworks, capacity tendering and pricing, and establishing principles for asset valuation of mega developments in the sector. Furthermore, as the most senior Economist in the DoE, this role is responsible for the professional development of all the Economists/ working across various departments across DoE. Job-specific Responsibilities : Ensure economic advice and recommendations on setting of price controls and tariffs is aligned with key tenets of the energy sector - sustainability, security of supply and affordability; and confirm alignment to social, economic and environmental objectives determined by the Abu Dhabi Government.Provide economic input and advice into the development of Price Control Returns (PCRs); issue RIGs / TA information guidance package and derogations; calculate and notify the annual bonus / penalty (Q factors) to the price controlled companies.Support the price control process including the review of OPEX/ex-ante and ex-post CAPEX; setting of Weighted Average Cost of Capital (WACC); identification and development of new incentives and Regulatory Instructions and Guidance (RIGs); tariff and subsidy development; review and approval of MAR and tariff information (MTI); and setting of 'cost to serve' e.g. metering.Provide economic input into new capacity tendering, pricing and commercial terms for PWPA's / PPAs.Establish economic and technical principles for asset valuation of mega developments.Keep abreast with developments in the field of economics and regulation, in particular related to price controls and incentives and provide guidance on how the frameworks can best evolve and develop in the future.Coach, mentor and motivate other Economists in the DoE and support them in their professional development.Collaborate with partner institutions; research think tanks and universities, both within and outside UAE, in order to deepen regulation capability and broaden the scope and outreach of DoE and its regulatory initiatives.Supervise economic projects and work streams as requested by the Regulatory Affairs Department.Develop excellent working relationships across DoE and in other key Departments such as the Department of Finance and the Department of Economic Development. Promote and maintain a good image of the department, while conducting business in an ethical and professional manner.
Job Requirements: -
Bachelor's Degree in a relevant discipline, e.g. Economics, Economic Policy - Minimum of 6 years of experience in Economist and/or Regulatory roles in the utility sector Knowledge: The candidate must have following capabilities: Comprehensive knowledge of pricing and tariffs in the energy sector, including wholesale pricing, BST, TUoS and DUoS charging mechanism, customer retail tariffs, the price control setting process pricing models, data analytics and tools used for setting pricing Extensive knowledge/experience to critique / challenge companies in pricing methodologies Comprehensive knowledge of socio-economic analysis and associated tools and techniques Preform quick analysis and what if scenarios for certain initiatives or policies to calculate the impact on revenues/cost and subsidy and translate them in professional presentations to management Deep understanding of the energy sector globally, regionally and in Abu Dhabi Good undertaking of price control regimes Attributes: Ability to communicate and develop strong working relationships with internal teams, DoE leadership and senior management, external stakeholders and advisorsAbility to work influence key stakeholders (both internal and external)Ability to convey complex economic concepts to non-expertsAbility to provide ongoing career development, support and coaching for other EconomistsSkills: Leadership and influencing skillsAnalytical, problem solving and critical reasoning skillsEffective oral and written communication skillsYou may send your updated cv to careers@proworksrs dot com Job Types: Full-time, Permanent Experience: Economist and/or Regulatory roles in the utility sector: 6 years (Required)Education: Bachelor's (Required)Location: Abu Dhabi (Preferred)Language: Arabic (Required)Work Remotely:No
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