PJM Fundamentals Manager

Irving, TX 75039

Posted: 08/13/2019 Industry: Energy-Front Office Job Number: 1369

This role undertakes power fundamentals in PJM to develop internal points-of-view on key fundamental drivers of the PJM power market in order to support the traders with commercial decision-making and trade idea generation. Additionally, fundamental analysis aids in corporate strategy initiatives including capital projects and M&A activity.

Key responsibilities include:

  • Determine market price and congestion impact due to potential market changes including transmission upgrades, supply / demand evolution, and market rule changes;
  • Conducting fundamental research including supply & demand market modeling with a focus on day-ahead out 5 years;
  • Track market rule changes, plant retirements, new builds, transmission upgrades, near-term demand and fuel prices.
  • Forward view on generation, transmission, load and impact to power prices and heat rates;
  • Providing short-term power price forecasts and market drivers;
  • Developing Stack Models in the PJM power markets;
  • Identifying market inefficiencies, price opportunities and strategies for the traders;
  • Undertake “capacity market” fundamentals to support bidding activity;
  • Summarizing themes and strategies of suggested trades versus the overall portfolios and broader power markets; and
  • Developing trader tools.

Educational and professional requirements include a bachelor’s degree in a numerate field (master’s/MBA degree is a plus); 5+ years of professional experience with the North American power markets in a power trading commercial environment; experience with analyzing the Cash and Term power markets; strong modeling/programming skills; an understanding of North American power supply/demand and infrastructure fundamentals; proven ability to build analytical trading tools; and ability to think commercially with strong communication skills. The candidate must have market knowledge in PJM; and experience with PSO, PROMOD, Aurora, GE-MAPS, or similar.

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