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Power Market Analyst

Oakville, ON, CA, L6J 2X1

Our purpose is sustaining energy and water for life, and it is demonstrated in everything we do as a business, and as an employee team.

At Liberty, we hire passionate people who care about doing the right thing for our customers. We are entrepreneurial, creative, and outcome-focused. Here, your natural talent and achievements will flourish in an inclusive environment of teamwork, trust and continuous learning. We are always pursuing excellence to exceed our ambitions goals, rewarding both the goal outcome and how we achieve it. 

Purpose

 

The mandate of the Energy Services (ES) team is to maximize the company's risk adjusted asset return by providing superior portfolio management (hedging/optimization) and market advisory services. The Energy Services team consists of three groups:

(i) Portfolio Management (Trading Team) responsible for developing and executing trade strategy.

(ii) Client & Asset Support responsible for managing customer off-take arrangements and asset on-boarding.
(iii) Market Analytics responsible for all reporting and development of analytical tools and approaches to support the portfolio management team.

The Power Market Analyst role is within the Market Analytics group but works very closely with the trading team in the development of proprietary tools, processes and systems that enable decision-quality analysis and reporting within Energy Services and Algonquin.  
The successful candidate is an expert in North American power market analysis with deep knowledge of analytical approaches and understanding of fundamental data requirements. The main responsibility of this role is to build analytical tools and provide analysis to the trade team to support hedging and risk management activities. This role may be performed remotely from Calgary, Alberta.

Accountabilities

 

  • Build, as directed by the trade group, strategic models to monitor and evaluate risk metrics on portfolio of assets.
  • Collaborate with the trading team in the development of hedge and trade strategy. Provide analytical support to traders for hedging and pricing decisions.
  • Assist the trading team in the evaluation of new market opportunities & products such as various option structures and capacity markets.
  • Assist the trading team in understanding their position and the exposure generated from both physical and financial assets.    
  • Assist the trading team in quantifying the risks associated with their positions (i.e., VaR, EaR, etc.)
  • Monitor and gather key industry intelligence, identify trends and communicate to relevant stakeholders.    
  • Identify potential risk in the portfolio and collaborate with the traders to execute cost-effective hedging strategies to mitigate the risk.
  • Perform standard reoccuring tasks for the trading team such as: supplying forward pricing to plant managers, asset strategy, customers or business development.
  • Assisting the Environmental Trader with managing REC deliveries and interaction with all environmental registries.
  • Champion new software or analytical approaches to improve earnings or mitigate risk. Research and implement continuous improvement mechanisms to better streamline the tools and processes of the Energy Services team. Improve current processes by automatiing critical tasks.
  • Assist the trading team in the evaluation/verification of new renewable asset opportunities: such as review of basis studies, calculation of shape risk in fixed volume hedges, analysis of hedge/production volume on new off-take arrangements.
  • Perform key fundamental demand and supply analysis with a focus on ERCOT, PJM, MISO & CAISO. Build models to track market fundamentals and regularly benchmark against actuals.
  • Execute wholesale market analysis and reports concerning but not limited to: Basis, DART spreads, forward price volatility and correlation analysis.
  • Publish executive reports based on design specifications provided by the Portfolio & Corporate executive team.
  • Perform the distribution and data validation of reports (daily, weekly  and monthly) with the goal of standardization, automation and accuracy.
  • Identify risks and communicate to the appropriate stakeholder groups (Portfolio trading team, executive management, operations etc.)
  • Prepare & present to various stakeholders research on market relevant topics.
  • Create & distribute reports to Liberty customers that we provide energy services for.
  • Report information includes and is not limited to: position, exposure, P&L, price volatility, KPIs.
  • Support the Market Analytics team in the design & population of the database with internal information setting up data flows to capture such items as generation and transactional (hedge) data.
  • Support the Market Analytics group in the design & population of the database with external information setting up data flows to capture such items as weather, wind resource/speed, market demand etc.
  • Develops tools and queries as needed to obtain wholesale power market data used in evaluations.
  • Execute & Support database monitoring and data validation post database implementation.

Education and Experience

 

  • Advanced knowledge in data analytics tools and platforms (e.g., R, Python, and SQL) is required. 
  • Successful candidate must have basic knowledge of energy markets, products and trading instruments such as swaps, options, futures. 
  • Knowledge of the Microsoft Azure Machine Learning Studio and suite of tools and Snowflake is preferred.
  • Work experience in the deregulated energy markets or trading floor experience in the energy field is preferred.  
  • Experience analyzing market fundamental drivers in ERCOT, PJM, MISO, CAISO, AESO is preferred.
  • Candidate must have advanced spreadsheet skills and strong modelling aptitude.

Algonquin Power & Utilities Corp. is a growing renewable energy and utility company with over $15 billion of assets across North America and internationally.

For more than 30 years, Algonquin has demonstrated an unwavering commitment to delivering clean energy and water solutions. Our rapid growth has led both our regulated utility services and renewable energy business groups into different geographies and commodities, but our purpose remains unchanged – Sustaining Energy and Water for Life.

Through our operating business (Liberty), we provide regulated electricity, water, and natural gas utility services to over 1 million customer connections, primarily in North America. And, our growing portfolio of clean, renewable wind, solar, hydro and thermal power generation facilities represent over 3 GW of renewable generation capacity in operation and under construction.

With our robust, diversified, and growing presence in communities across North America and internationally, we are continually demonstrating our “Think Global,  Act Local” business model.

What we offer

Company funded Pension program

401k with Company match

Full insurance benefits (helath/dental/vision/life)

Collaborative environment with a genuine flexible working policy

Share purchase/match plan

Defined Contribution savings plan

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.

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