Head of Market Analytics and Trading Support
Company: RWE Gruppe
Location: Chicago
Posted on: September 19, 2024
Job Description:
Head of Market Analytics and Trading Support
- Location(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 analyze 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 optimization 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.
- Identify gaps in fundamental analysis and 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.
- Collaborate 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/strategies from a
fundamental/market analytics perspective to support the direction
of trading.
- Ensure that:
- Our DAYZER model is refined and updated.
- 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.
- 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 modeling, particularly production
cost modeling for electricity markets. Experience with production
modeling tools, in particular DAYZER or similar (such as PLEXOS,
AURORA, PROMOD, UPLAN).
- Very strong quantitative and analytical skills (transfer of
algorithms into model conduct).
- Ability to transfer knowledge between analysis and decision
makers in other departments with an interdisciplinary
approach.
- Excellent IT skills including the 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.Apply now with just a few clicks: ad code
87505We 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.
#inclusionmattersRWE Supply & Trading is the interface between RWE
and the energy markets around the world. Around 2,000 employees
from over 70 different countries trade electricity, gas,
commodities, and CO2 emission allowances. The trading entity also
ensures the commercial optimization of RWE's power plant dispatch
and markets electricity from RWE.We are looking forward to your
online application.
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Keywords: RWE Gruppe, Joliet , Head of Market Analytics and Trading Support, Accounting, Auditing , Chicago, Illinois
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