Senior Manager, Commercial Operations (Power Generation Portfolio)

White Plains, NY 10601 | Work from home flexibility

Posted: 12/29/2022 Industry: Energy-Front Office Job Number: 1684

Job Description

An international power & gas company is searching for a Senior Manager of Commercial Operations to support the energy management, real-time operations, and daily dispatch of power generation assets primarily in the PJM, NEISO, and MISO markets. The Commercial Operations team is a small, collaborative team responsible for optimizing power generation assets (owned, minority investments, or JV partnerships) and maximizing profitability margins.

Key responsibilities include the below areas and continued support to further build asset management capabilities.

Asset Power Trading:
  • Responsible for the daily Day-Ahead bidding strategy and trade execution of power generation for natural gas-fired facilities in PJM, NEISO, and MISO.
  • Work with plant operations, third-party energy managers, and fuel suppliers (intraday gas procurement) for optimal asset trading and optimization.
  • Follow PJM power market conditions to develop bidding strategies and manage generation assets.
  • Participating in wholesale load auctions.
  • Developing and executing capacity market strategies.
  • Managing FTR auctions to hedge basis risk.
  • Purchase RGGI credits for environmental compliance.
Forward Power Trading & Hedging:
  • Support Portfolio Management Director with hedging strategies (intra-month to 3 years) for owned generation assets.
  • Develop and execute hedging strategies (intra-month to 3 years) for generation projects under Asset Management.
  • Propose hedge and optimization strategies for projects in development (with project partners).
  • Assist in building and managing a Renewable Energy Credit (REC) portfolio and its associated hedge activities.
Fundamental and Power Markets Analysis:
  • Work with the Manager, Commercial Operations to help establish a forecasting analytic framework with an east/northeast focus (PJM, NEISO, and MISO markets) to support portfolio management and commercial activities.
  • Understand and follow the physical/financial power markets, ISO power market prices, capacity markets, and regulatory developments.
  • Oversee fundamental research, formulate short and long-term market views, and forecast power prices for commercial decisions.
  • Develop an Emissions forecast model.

Financial Management:
  • Manage the strategic budget plan, forecasting, reporting, and KPIs involved with managing generation assets and new development projects.
Processes/Systems:
  • Developing processes/systems to support front-office operations required to optimize generation assets. Working across internal teams (front, middle, and back-office) to ensure transactions are captured in the third-party Risk Management (ETRM), Logistics, Finance, and Accounting Systems.
Cross-Functional Collaboration: Regular communication with key stakeholders, including Executive Management, Commercial Operations, Asset Management, Plant Operations, Risk, Finance, and Accounting to drive results.

Educational and Professional Requirements:
  • Bachelor's degree in Engineering, Economics, Finance or a related field,
  • Strong understanding of the business and commercial aspects surrounding power generation in the power markets (PJM experience preferred, but experience in NEISO, NYISO, MISO, or CaISO will be considered).
  • 5-10 years of experience in power trading, portfolio management, and hedge strategy development for natural gas-fired assets.
  • Experience with Day-Ahead and Real-Time (DART) trading of power, natural gas, spark spreads, and related energy commodities and derivatives.
  • Strong leadership and communication skills.
  • Proficient knowledge of commodity risk management analysis.

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