Energy Markets & Sustainability Analyst

ABOUT US

The Utility Regulation and Competition Office (“URCO” or “Office”) is an independent, multi-sector regulatory body responsible for regulating information and communications technology, energy and electricity, water, and fuels in the Cayman Islands. Our mandate is to protect consumers, ensure fair competition, and promote innovation, investment, and development in all regulated sectors. The sectors are regulated by the Utility Regulation and Competition Act (URCA) and the sector-specific acts and regulations.

JOB DESCRIPTION

Overview The Energy Markets & Sustainability Analyst supports the Head of Energy Markets and Sustainability in the regulation, analysis, and development of competitive energy markets, and in advancing sustainability and energy transition initiatives in the Cayman Islands. The role involves analysing economic, technical, and market data to inform regulatory decisions, policy development, and strategic planning. The post holder produces high-quality analytical outputs, including statistical, financial, and policy insights, to support the Office’s mandate. The position requires ongoing monitoring of regional and international energy developments, including market trends, regulatory approaches, and emerging technologies. A high degree of integrity and confidentiality is required in handling commercially sensitive information. Job Purpose The Energy Markets & Sustainability Analyst supports regulatory decision-making in accordance with the Utility Regulation and Competition Act, applicable sector legislation, and the National Energy Policy, with a focus on market performance and the integration of renewable energy, energy efficiency measures, and emerging technologies. The position is integral to delivering data-driven analysis and recommendations that promote fair competition, protect consumers, provide analytical and policy support and support the energy transition. Scope of Role The Energy Markets & Sustainability Analyst supports the monitoring and analysis of energy market performance, regulatory compliance, and sustainability initiatives. The role includes applying economic and analytical methodologies to produce financial, statistical, and policy analyses that inform regulatory and strategic decision-making. The role also supports the implementation of national energy objectives through renewable energy, energy efficiency, and emerging market initiatives, ensuring alignment with applicable legislation and regulatory requirements.

• Analyse and report on competition, regulations, and sustainable development in the Energy market.
• Analyse and report on project proposals from licensees, sectoral providers or participants.
• Analyse and assist in designing and overseeing regulatory frameworks that ensure fair and competitive energy markets.
• Monitor and analyse market performance, pricing structures, and trends to recommend improvements.
• Evaluate market power and take measures to prevent anti-competitive practices.
• Support the development of policies and mechanisms to facilitate demand response, energy storage, and emerging technologies.
• Prepare formal reports on the performance of the licensees at least annually and as required.
• Prepare and conduct bid solicitations, evaluations, PPA and Interconnection agreements evaluations, and provide assessments and recommendations.
• Assist in promoting and integrating renewable energy sources into the national energy mix.
• Assist in developing and monitoring incentive programs for renewable energy deployment.
• Work with stakeholders to advance the National Energy Policy.
• Research and implement best practices for energy efficiency and conservation.
• Contribute to energy policy development with the government and regulatory stakeholders.
• Monitor licensees to ensure compliance with license conditions and all relevant laws.
• Monitor licensees to ensure regulated entities adhere to sustainability requirements.
• Monitor and verify the accuracy of all pass-through charges by licensees to consumers.
• Collaborate with legal and enforcement teams to ensure compliance with regulatory mandates.
• Assess the impact of new regulations and market interventions.
• Review and report the financial effect of changes to the per kWh charges on electricity billings.
• Make recommendations for improvement in the monitoring and oversight of the Energy markets and sustainable development.
• Prepare Board papers on energy-related matters for submission to the Board of Directors through the HEMS
• Analyse, monitor and evaluate the market performance and sustainability of the Energy Market, and assess whether the regulated entities comply with the conditions set out in their licences and relevant legislation.
• Provides technical advice and support on negotiation and recommendations for participant agreements.
• Represent the Office at conferences and public consultations and participate in technical working groups in nationally significant Energy projects, and help guide policymakers in decision-making.
• Stay updated on new developments in renewable energy and guide the regulatory implementation of these technologies' impact in the Cayman Islands.
• Assist with researching the impact of varying renewable energy models and regulatory regimes on end prices.
• Measure and track key indicators related to the energy market and the individual entities. This includes but is not limited to margin analysis, profitability, inventory management, stock turnover, asset utilisation, investment pipeline, and pricing mechanisms and structures.
• Obtain and assemble databases utilising agreed and established formats, and any other information as requested by the HEMS.
• Maintain accurate records of regulatory activities and compliance efforts.

Education A Bachelor’s degree in Economics, Finance, Engineering, Energy Studies, Environmental Science, or a related discipline is required. A postgraduate qualification in energy policy, sustainability, or economics is an asset, especially regarding energy markets or utility regulation. Experience

• The Post Holder must possess at a minimum of three (3) years’ experience in energy regulation, utilities, energy markets, sustainability, or a related analytical or policy-focused role within the public or private sector.
• Demonstrated experience in analysing complex datasets to support regulatory, economic, or policy decision-making, including the application of quantitative and statistical methods.
• Experience in electric utility regulation, renewable energy technologies, and energy efficiency programs would be a distinct advantage.
• Exposure to renewable energy technologies, energy efficiency programmes, or sustainability initiatives, including policy or programme support, is an advantage

Knowledge

• Sound knowledge of energy markets, including market structures, pricing mechanisms, and regulatory frameworks. In-depth understanding of energy regulations and policies, and familiarity with regulatory bodies and processes.
• Understanding of sustainability and energy transition principles, including renewable energy, energy efficiency, and emerging technologies.
• Working knowledge of government policy processes and stakeholder environments within the Cayman Islands is an asset.

Skills & Abilities

• Strong analytical and quantitative skills, with the ability to interpret complex economic, financial, and technical data related to energy markets and sustainability initiatives.
• Excellent written and verbal communication skills, including the ability to prepare high-quality reports, policy briefs, and Board papers.
• Ability to multitask and interpret complex data while maintaining a sense of urgency in achieving outputs and meeting deliverables.
• High standards of integrity, confidentiality, and impartiality in handling commercially sensitive and regulatory information.