The Market Analyst – Power Market Mitigation is part of an internal market monitoring group. Market monitoring is responsible for protecting both consumers and market participants in the wholesale electricity markets by mitigating the impacts of uncompetitive bidding, identifying, and reporting market design issues and market manipulation, and evaluating market performance. In fulfilling this role, we rely on a multidisciplinary team with expertise in economics, financial analysis, engineering, data science and law.
In this role you will play an important role in implementing the market power mitigation rules in the wholesale energy markets, and thereby help to ensure that prices are set at competitive levels. You will get a unique insight into the capital and operating costs of generators, ranging from existing fossil fuel generation to emerging new technologies such as battery storage, as the grid transitions to clean energy. You will interact with project owners and existing participants and conduct production cost and financial analysis in the evaluation of offers in the energy and capacity markets. You will also have a role in conducting empirical analysis assessing the effectiveness of the mitigation rules, developing, and reviewing market reports and screens, and monitoring participant behavior for compliance with the market rules.
(Paid relocation provided. This is a hybrid role, with 2 days in the office each week.) *YOU MUST BE LEGALLY AUTHORIZED TO WORK FOR ANY US COMPANY WITHOUT VISA SPONSORSHIP*
- Develop and use financial and engineering models to estimate and evaluate a generator’s marginal and opportunity costs of production
- Create and analyze large datasets containing generator offers, fuel input and operational data
- Develop screening tools to identify tariff violations and market manipulation in the energy market
- Perform the energy market mitigation duties as set out in the market rules
- Create production cost models for existing and new resources used to determine competitive benchmarks (reference levels) in energy market mitigation assessments. Assess the reasonableness and veracity of inputs into the reference level calculations, such as heats rates, and variable operation and maintenance costs
- Review and develop market reports providing situational awareness of market outcomes, competitiveness, and mitigation
- Evaluate the offers of new generators seeking to enter the capacity market and existing capacity generators seeking to exit the capacity market
- Perform due diligence quality reviews of financial reports, project financing models, risk assessments and engineering studies associated with the development of new resources and the exit of existing capacity resources from the capacity market
- Assist in the development, testing and implementation of tools required to operate and develop the mitigation functions in the energy and capacity market
- Bachelor’s degree in Economics, Finance, Engineering, Business Administration or related field.
- Experience or interest in wholesale electricity markets or in the electric utility industry
- Familiarity with wholesale electricity and gas markets, as well as an understanding of inputs and drivers of production and opportunity costs. Knowledge of costs across the power plant asset life cycle (build -> operation -> retire) desirable
- Ability to thoroughly analyze data, and assess power buying and selling strategies from the perspective of a profit maximizing market participant
- Financial analysis skills – understanding of discounted cash flow models and modeling techniques
- Ability to identify anomalous outcomes and behavior, identify potential gaps in the current electricity market rules, and assess how participants could exploit such gaps
- Demonstrated ability to work to tight deadlines, and efficiently and collaboratively with others.
- Experience with Excel, SAS, SQL or other relational database software to perform analysis on large databases (desirable)
- Experience with risk evaluation techniques (desirable)
- Excellent written and oral communication skills, and ability to communicate technical concepts to a broad audience
THIS COMPANY REQUIRES MANDATORY VACCINES WITH BOOSTERS IN ORDER TO BE CONSIDERED FOR ANY POSITION