Transmission and Congestion Market Associate

LRE Energy Services:

LRE’s is actively executing its strategic plan that will see the number of project companies needing portfolio management and asset optimization services increase from 7 to 44, an increase of approximately 4,500 MW, across multiple markets. The scope and scale of the Company’s growth has led to the development and board approval of an Energy Services business plan to asset optimization as a core capability as an integral part of our strategy. Energy Services is charged with building the infrastructure, processes, risk controls and the execution team (transaction and compliance) for the asset optimization functions, that that will be that will be responsible for the full suite of portfolio management services (including energy marketing and management capabilities) needed to optimize the portfolio value and manage market-based risk. This also includes the execution of all Scheduling and Settlement functions using the Adapt2 platform, and the implementation of the Adapt2 ETRM. The objective of the Asset Optimization business will be risk mitigation and risk-controlled revenue enhancement. The Asset Optimization business will be the sole face to the market for the LRE portfolio. Once fully staffed and equipped with infrastructure, risk management and compliance capabilities, the Asset Optimization business will engage in active portfolio management mitigating commodity, regulatory and basis risk and pursue revenue enhancement via structured transactions and trading.

LRE’s unique growth position provides entrepreneurial risk and trading professionals with the unique opportunity to build an Energy Services and Asset Optimization business from the ground up.

Job Summary:

The Transmission and Congestion Associate will be responsible for the modeling of the transmission system and pricing of the open congestion/basis risk in Leeward’s portfolio. The Associate’s responsibilities will include working in partnership with the Manager of Congestion and Market Analytics, Basis Traders and Director of Portfolio Management, to develop and implement the LRE Congestion Plan. The Associate will identify risk mitigating strategies and congestion hedges and participate in the execution of the hedges (Virtuals and FTR/TCC/CRRs). The Associate will lead the Energy Services’ desk modeling and market intelligence for congestion products available in PJM/ERCOT/MISO and CAISO markets.

The Associate will be responsible for updating and maintaining all congestion models and data, will work closely with the Manager of Congestion and Trading in the preparation of the LRE Congestion Plan which will be delivered to the LRE Board on a Quarterly basis. The Associate will be proficient in running power flow models and support development of trading positions.

Essential Functions:

• Research, model, and price congestion fundamentals (sources and sinks) in multiple ISOs.
• Validate and analyze congestion models for accuracy and completeness.
• Manage/mine large data sets to identify and price trading opportunities that mitigate basis risk and enhance/protect expected revenue.
• Perform quantitative analyses and econometric studies of energy markets and translate wholesale market changes into strategic opportunities.
• In collaboration with the Transmission group and Manager of Congestion and Trading Analytics, maintain, execute, and calibrate power flow optimization models (e.g. YES, Powerworld, Dayzer) needed to develop trading strategies.
• Develop, update, and participate in the execution of the LRE Congestion Plan.
• Contribute to the LRE’s research and innovation activities supporting development of new techniques and/or analytical tools, enhancing LRE’s transactional capabilities.
• Produce nodal LMP forecasts across multiple ISOs for short-term and long-term cases.
• Collaborate with trading teams to run ad-hoc sensitivity cases.
• Ability to lead congestion products auction participation and executes trades in the daily markets.
• Establish and maintain working relationships with internal and external contacts that support the development of data driving the LRE models.

Qualifications:

• 3 to 5 years’ experience on a FTR desk, congestion, or energy market analysis team.
• Experience with transmission modeling, virtual trading and FTR auctions across multiple ISOs, PJM, ERCOT and CAISO preferred.
• Knowledge of wholesale markets power markets and general ISO operations
• Strong understanding of transmission systems, drivers of nodal pricing changes and associated power flows.
• Can run, scope and interpret power flow models such as Pro-Mod, Power World and/or others.
• Critical thinker with strong analytical skills capable of identifying risk mitigating and revenue enhancing strategies.
• Experience with transmission modeling tools (Dayzer, YES, etc.)
• Experience working within SQL and database structures preferred.
• Must hold bachelor’s degree in STEM or a business discipline.
• Tableau or Power BI skills preferred.
• Proficient with Excel and Word

Physical Demands:

• This position will travel 10% of time.

• Position will require sitting for long periods of time as well as occasionally lifting up to twenty-pound boxes.