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PJM - MISO Trader

We better the lives of our customers and communities.

Purpose

The directive of the Energy Services (ES) team is to improve the company’s risk adjusted asset return by providing portfolio management (hedging/optimization) and market advisory services. The successful candidate will report to the Senior Portfolio Manager and assist in the development of the hedging and optimization strategy for Liberties growing fleet of renewable assets in the PJM-MISO regions. They will be directly responsible for the execution (transacting) of the strategy and portfolio plan for those regions.

 

Accountabilities


ENERGY MARKETING


-  Build and execute hedge and optimization strategies and lead financial trading position around physical assets in the PJM-MISO region (same day - 3 years).

-  Optimize physical basis conditions within a geographically diverse portfolio. Develop and execute basis strategies to mitigate exposure.

-  Research and Model supply and demand fundamentals and grid congestion in PJM-MISO markets. Deploy hedging strategies to make profitable-optimal decisions based on asset position and underlying risks in the market.

-  Lead and optimize Day Ahead - Real Time (DART) spreads.

-  Develop deep understanding of all long-term off-take arrangements (PPAs/C&I customers) associated with Liberties asset portfolio in PJM-MISO. Identify seasonal weather risk in the portfolio and develop and execute efficient hedging strategies to mitigate this risk.

-  Develop and execute hedging strategies for energy, shape, basis and ancillary positions. Strategies focus on growing variable margin and/or reducing portfolio risk.

-  Develop and execute capacity market strategies for relevant markets (PJM, MISO) and handle obligations in the market as required.

-  Execute bilateral transactions and participate in congestion auctions to balance portfolio.

-  Communicate portfolio value drivers, impact of market fundamentals and associated sensitivities.

-  Stay current with developments in the electricity and fuel markets (PJM-MISO) including any potential regulatory changes. Work closely with the Market Analytics team to improve price and risk modelling.

-  Be the PJM-MISO market specialist on all issues related to delivery, transmission, congestion, settlement and portfolio risk.

-  Play an active role in the research and development of analytical tools and trading approaches.

-  Provide insights that are relevant to the broader objectives of the group across trading, financing, risk and portfolio management.


RISK MANAGEMENT


-  Ensure that all transactions are accurately gathered and reflected within the deal capture system and have received the necessary approvals within prescribed Delegation of Authority limits.

-  Actively monitor, report and ensure ongoing compliance to market rules, regulations and tariffs.

-  Continually monitor information that may impact market conditions and communicate that information immediately to appropriate partners.

-  Assist the Senior Portfolio Manager in the monthly performance and market insights report to senior management.

-  Help develop market/management reporting suite to ensure the focused collection and analysis of market fundamentals information to produce meaningful insight.

-  Work with commodity risk management and credit risk management teams to ensure appropriate portfolio and counterparty risk reports are accurately published in a timely basis.

-  Align with all internal policies, procedures and guidelines. Work with the Senior Portfolio Manager on continuos improvements in policies and procedures.

-  Ensure all reporting: Position, MTM, P&L, Risk metrics is timely and accurate. Immediately flag any inaccuracies when discovered and report immediately to the relevant internal partners.

-  Understand and abide by all corporate risk tolerance levels. Understand the core objectives of the Energy Services team and the integration/support with the corporate objectives.

 

 

Accountabilities Continued

STAKEHOLDER SUPPORT


-  Provide information/insight to the Asset Support Analyst in regards to Business Development requests.

-  Support Senior Portfolio Manager and other partners with ad-hoc requests and projects.

-  Provide back-up support to other traders within the team (ERCOT, Environmental products) when needed.

-  Work with commodity risk management and credit risk management teams to ensure appropriate portfolio and counterparty risk reports are accurately published in a timely basis.

-  When required, support onboarding of any new hires. Ensure sufficient cross-training is provided for all critical functions.

Education and Experience

University - Bachelor degree or equivalent in Engineering, Finance & Economics
     
3-5 years of experiences

Who we are

We know that the services we provide directly affect and are essential to our customers’ quality of life and wellbeing. From homes to hospitals, elder-care facilities to elementary schools, our customers depend on our ability to continue to provide safe and reliable energy and water services. For more than 30 years, Liberty has demonstrated an unwavering commitment to delivering clean energy and water solutions. Our rapid growth has led both our renewable energy and regulated utility services into different geographies and commodities, but our purpose remains unchanged – Sustaining Energy and Water for Life.

Today, Liberty provides regulated water, electricity, and natural gas utility services to over 807,000 customers in the United States and Canada. And, our growing portfolio of clean, renewable wind, solar, hydro and thermal power generation facilities represents over 2 gigawatts (GW) of installed capacity and more than 1.6 GW of renewable energy projects under construction.

Through embedding sustainability in our day-to-day business decisions and putting our customers first in all that we do, we know that we can do well by doing good. We recognize that we have a role to play in leading the energy transition towards greener solutions for our customers and communities. And, our recent recognition in the 2020 Bloomberg Gender Equality Index and as one of the Top 10 of Corporate Knights Global 100 Most Sustainable Corporations in the World ranking are testaments to our work in sustainability.

About Algonquin Power & Utilities Corp:

Liberty is a subsidiary of Algonquin Power & Utilities Corp. (“Algonquin”). Algonquin is a North American diversified generation, transmission and distribution utility with $11 billion of total assets. Common shares, preferred shares, and installment receipts are traded on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, AQN.PR.D, and AQN.IR.  APUC's common shares are also listed on the New York Stock Exchange under the symbol AQN. 

Visit our Careers Site at https://jobs.libertyenergyandwater.com/

Follow us on Twitter and join the conversation! @AQN_Utilities & @AQN_Careers

 

What we offer

  • Collaborative environment with a genuine flexible working policy

  • Share purchase/match plan

  • Pension Plan

  • Free refreshments

  • Top Talent Program

  • Volunteer paid days off

  • Employee Assistance Program

  • Achievement fund

  • Free parking, including free electrical charging

We are focused on building a diverse and inclusive workforce. If you are excited about this role, and are not certain you meet the all the qualification requirements, we encourage you to apply to further investigate the opportunity.

We are an equal opportunity employer and value each person’s unique background, diversity, experiences, perspectives and talents. Full participation of all employees in a safe, healthy and respectful environment is key to individual and company success. We are committed to fully utilizing the abilities of all of our employees and expect each of our employees to honor this commitment in their daily responsibilities.

As part of our commitment, we work to ensure our application process is accessible to all candidates. If you require special assistance or accommodation during the hiring process, please notify the Talent Acquisition Team.

 

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