Regulatory Economist I

  • Regulatory Economist I
  • What will I be doing?
  • Do I qualify?
  • Can I be successful?
  • Benefits
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Class Number: 
7810
Annual Salary Range:
$39,708.00 – $56,520.00
Twice-a-Month Salary Range:
$1,654.50 – $2,355.00
Pay Grade: 
A25

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Definition

This is entry-level professional economic research work in the analysis of supply systems, rates, and the demand for regulated utility services.

Job Duties

Plans, designs, and develops economic research projects pertaining to the operation of investor-owned electric, gas, steam, telecommunications, sewer and water companies. 

 Performs complex statistical research assignments for various utility services involving the preparation of  technical, informative, and/or operational reports and papers; coordinates activities with agency staff and others to ensure that a consistent approach is implemented.

Retrieves information on research strategies and analytical methods and presents it to management and senior technical staff to aid in addressing policy issues; evaluates and describes limitations on the reliability and usability of source information; determines additional data requirements; and adjusts and weighs raw data and organizes results into a form compatible with analysis by computers or other methods.

Conducts economic analyses of utility ratemaking, including billing units and revenues, class cost of service, rate design, rate impact, load research analysis, and sample design using statistical techniques such as linear and non-linear regression and differential equations.

Constructs theoretical and econometric models for studies of public utilities, including cost of service, price and income elasticity, projection of future demand, and comparative operational efficiency of companies; formulates plans to aid in market interpretation or solution of economic problems such as recommending changes in methods of determining rates.

Evaluates testimony filed by investor-owned utilities and technical staff in order to determine feasibility of proposals and identify factors requiring amendment; provides technical assistance to utilities to enhance statistical modeling methods, improve technology, or reduce costs.

Attends training courses and works in association with engineers, economists, auditors and other management personnel in order to gain an understanding of utility technologies.

Assists legal staff in the preparation of briefs on litigated issues and cross-examination of witnesses for Public Service Commission (PSC) hearings; serves as an expert witness in proceedings involving rates, rate design, generation expansion and other regulatory issues; and participates in negotiations of staff position during settlement discussions on assigned issues in docketed cases.

Designs software applications or uses commercial computer software packages for statistical estimation of the parameters of the models developed.

Reviews and evaluates publications and other sources of information to stay abreast of utility regulations and new developments in the field of statistical analysis; develops seminars or workshops on research activities and trains non-economic analysis staff in the application of analytical methods used to support staff positions.

Attends training courses and works in association with management, engineers, economists, auditors and other management personnel in order to gain an understanding of utility technologies.

Exercises independence and initiative in the performance of responsibilities; receives general administrative direction.

Performs other related duties as assigned.

Areas of Interest: 
College Graduates; Research, Information & Publication

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(The following minimum qualifications will determine merit system eligibility.  Allowable experience and education substitutions are provided in italics below the corresponding minimum qualification statement; no other substitutions will be permitted.  These minimum qualifications may also be used to evaluate applicants for Missouri Uniform Classification and Pay System positions not requiring selection from merit registers.)

A Master's degree from an accredited college or university in Economics.

OR

A Bachelor’s degree from an accredited  college or university with a minimum of 24 earned credit hours in one or a combination of the following:  Economics, Engineering, Finance, Mathematics, or Statistics including 3 earned credit hours in Econometrics, Microeconomic Theory, Regulatory Economics, or a closely related field; and,

Two or more years of professional or technical experience performing economic analyses using statistical methods and techniques in a regulatory or utility environment.

(24 earned graduate credit hours from an accredited college or university in the specified fields may substitute for one year of the required experience.)

Please note that documentation that supports your eligibility (i.e. transcripts, employment records, etc.) may be required at any time during the application and hiring process. If you do not possess the minimum qualifications, please consider one of many other employment opportunities with the State of Missouri.

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Key Skills

Do you possess the key skills which are considered essential for successful employment in this classification?

Intermediate knowledge of available sources and types of information and methods of analysis used in regulated utility industries.

Intermediate knowledge of descriptive, inferential, and multivariate exploratory statistics, experimental design, and computerized econometric modeling.

Introductory knowledge of software packages associated with statistical evaluation and econometrics.

Introductory knowledge of the utility industry.

Ability to delegate responsibility and organize, direct and evaluate the work of analysts conducting research projects or rate-making studies.

Ability to obtain and evaluate both general and computerized management information.

Ability to analyze, interpret, and explain statistical data such as meaningful associations, estimates, or projections and present results with clarity and precision to technical and non-technical audiences.

Ability to testify as an expert witness under cross-examination.

Ability to establish and maintain effective working relationships with agency staff and representatives of other public and private agencies, and the general public.

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The following link will provide you with general information about State of Missouri employee benefits.

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