Senior PJM Power Asset Trader

Houston, TX 77002

Posted: 11/19/2024 Industry: Energy-Front Office Job Number: 1817

Job Description

An international power & gas company in Houston seeks a Senior Power Asset Trader to focus on the PJM Market. This asset trading role is part of a growing, collaborative Commercial Operations team responsible for developing and implementing strategies to maximize revenue, manage risk, and optimize profitability margins across a portfolio of assets in PJM, MISO, NYISO, and MISO. 

The position is responsible for the PnL of several PJM thermal generation assets, focusing on the prompt month trading activities. Key responsibilities follow:
  • Develop and implement portfolio management, optimization (real-time, day-ahead bidding, cash, and term strategies), and hedge strategies related to power, natural gas, and other products associated with natural gas-fired power generation and ISO operations.
  • Continually monitor the power markets and the competition to formulate short and long-term market and pricing views needed for commercial decisions.
  • Hedge assets within the Risk Management Policies governing the assigned assets.
  • Oversee and work closely with the third-party energy managers and plant operations responsible for the assets’ operational activities.
  • Fuel procurement and transportation for the intraday gas procurement for optimal asset trading and optimization.
  • Actively monitor regulatory developments and ensure compliance with FERC, CFTC, ISO, NERC, etc., market area rules, regulations, and tariffs.
  • Develop and implement the strategic budget plan, forecasting, reporting, and KPIs to manage asset generation.
  • Maintain a strong understanding and oversight of contracts and rights/obligations related to the assets. 
  • Support new development strategies/projects and M&A transactions.
  • Communicate regularly 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 economics, engineering, finance, or related field.
  • Minimum of 5+ years of experience working with thermal generation assets in a commercial operations/asset trading role at an IPP or private equity company.
  • Strong understanding of the business and commercial aspects surrounding power generation in the PJM market and locational marginal pricing (LMP). Experience in other ISOs/markets will be considered.
  • Knowledge of US natural gas, electric/power, and emissions markets, including supply and demand, market structure, and regulatory fundamentals. 
  • Experience with hedge strategy development for natural gas-fired generation assets, and natural gas markets. 
  • Experience managing trading risk for generation assets.  
  • Exposure to renewable energy generation (wind, solar, and battery storage).
  • Advanced skills in Excel, VBA, PowerPoint, and SQL. Experience with Python or R is a plus. 

Employees work three days in the office and two days remotely.
 
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