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Head of Market Analytics and Trading Support

2 months ago


Chicago, United States RWE Supply & Trading Full time
Head of Market Analytics and Trading Support
  • Location(s):
  • Chicago, IL, US, 60654

RWE Trading Americas Inc.

To start as soon as possible

Your future plans

Energy 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.
  • Identify gaps in fundamental analysis and set 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 out of the box.
  • Develop own trading recommendations/strategies from a fundamental/market analytics perspective to support the direction of trading.
  • Ensure:
    • 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 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.

Your powerful skills:

  • 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 (transfer of algorithms into model conduct).
  • Excellent communication 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. #inclusionmatters

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