Head of Market Analytics and Trading Support
Company: RWE AG
Location: Chicago
Posted on: September 19, 2024
Job Description:
Head of Market Analytics and Trading SupportLocation(s):
Chicago, IL, US, 60654To start as soon as possibleYour future
plansEnergy and electricity markets are rapidly changing with the
deployment of intermittent renewables and energy storage. This role
offers the opportunity to lead and build the analytics team that
forecasts the impact of these changes on energy and electricity
prices in selected US markets with the goal of reducing uncertainty
for hedging and optimization decisions of our US renewables assets.
To improve and expand our market view, we are looking for a Head of
Market Analytics and Trading Support. You will analyse fundamental
price drivers such as weather sensitivities, fuel commodity prices,
regulatory changes, and conventional and renewables capacity
development. With these inputs, you will refine and update our
DAYZER production cost model and quantify the impact of these
drivers on wholesale electricity prices. You will perform model
runs, check model plausibility, and back-test model results. You
will use the model results and sensitivities to improve our trading
strategies and work closely together with the desks on
implementation. You will be part of our analyst community and will
provide and explain your findings directly to the commercial
optimisation teams, who base their day-to-day trading and hedging
decisions on the model output. The market analysis focus for this
position is for power on ERCOT, expanding to PJM, CAISO, and other
ISOs. You will need to understand and model specific market design
elements such as price formation, capacity auctions, and
co-optimization of energy and reserves.Responsibilities:
- Lead and build a power fundamental analytics team for US power
markets and identify gaps in fundamental analysis to set a holistic
analysis strategy for the US power trading business.
- Build a network within the RWE Analyst Community to share
knowledge and gain access to group intelligence.
- Work together with commercial functions to collect and provide
the best available knowledge on fundamental drivers (supply and
demand curves, existing grid and line capacity and availability,
technical grid parameters, residual load, interconnection capacity,
regulatory changes, etc.).
- Drive the team to think outside the box.
- Develop trading recommendations and strategies from a
fundamental/market analytics perspective to support the direction
of trading.
- Ensure:
- That our DAYZER model is refined and updated.
- That scenarios are developed including stochastic model
development, and model runs are performed on a daily basis.
- Model input updates are automated and model results are
properly processed.
- Results are interpreted to provide decision-oriented support
for trading decisions, as well as ad hoc projects.
- Calibration and back-testing are performed and results are of
the highest quality.
- Understand and evaluate external studies and forecasts.
- Deliver long-term market view for strategic projects and
general valuations.Minimum Qualifications:
- University Degree in Engineering, Economics, Finance,
Mathematics, Physics, or equivalent. An advanced degree with an
electricity market focus is a plus.
- 3-5 years of professional work experience in the electricity
market in a commercial environment (trading, hedging, asset
optimization), ideally with (first) leadership experiences.
- Strong conceptual understanding of electricity markets such as
security-constrained economic dispatch and unit-commitment,
nodal/zonal price formation, capacity auctions, co-optimization of
energy and reserves, "missing money," and levelized cost of
electricity.
- Experience in fundamental modelling, particularly production
cost modelling for electricity markets. Experience with production
modelling tools, in particular DAYZER or similar (such as PLEXOS,
AURORA, PROMOD, UPLAN).
- Very strong quantitative and analytical skills.
- Ability to transfer knowledge between analysis and decision
makers in other departments with an interdisciplinary
approach.
- Excellent IT skills including ability to model in main
languages such as Python and in the MS Windows environment
(particularly Excel, Access).
- Experience interfacing with databases (SQL, R).
- Language skills: business fluent in English.
- Very good team player, high level of self-motivation and
flexibility, ability to work in a competitive environment and to
meet tight deadlines.We look forward to meeting you!We value
diversity and therefore welcome all applications, irrespective of
gender, disability, nationality, ethnic and social background,
religion and beliefs, age or sexual orientation and identity.
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Keywords: RWE AG, Joliet , Head of Market Analytics and Trading Support, Accounting, Auditing , Chicago, Illinois
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