Power Portfolio Manager

2 weeks ago

Houston, Texas, United States Octopus Energy Group Full time
About the Role

We are seeking a highly skilled Power Portfolio Manager to join our team at Octopus Energy Group. As a key member of our team, you will be responsible for managing retail supply activities in the ERCOT power market, as well as risk management and retail contract pricing.

Key Responsibilities
  • Identify and manage long and short-term price and volume risk exposures inherent to the retail power business
  • Monitor and manage shaping risk of the retail load portfolio and optimize utilization of DSR programs
  • Execute bilateral hedges, day-ahead demand bid schedules, and utilize non-standard instruments to cover risk and load for the retail book
  • Monitor and formulate forward price curves for all power cost components and continually monitor and adjust shaping assumptions to produce retail pricing at expected gross margin
  • Provide insight to senior management into the drivers of the company's gross margin from forecast through settlement
  • Produce reports related to the company's open position and MTM exposure, and VaR under a range of outlooks
  • Expand supplier relationships to maximize market coverage and trading liquidity
  • Take ownership of risk management policy, suggest amendments, and ensure compliance with all approved risk limits with close monitoring of position and mark-to-market reports
  • Develop and recommend clear procurement strategies to key stakeholders using data-driven analysis
  • Continuously challenge processes and deliver improvement/automation, or spec improvements/automation for delivery by the Tech team
  • Make proposals on generation, flexibility, or DSR initiatives that will support risk management and innovative ways to deliver genuine renewable supply
Requirements
  • Minimum 5 years of experience working in ERCOT markets
  • Bachelor's degree or higher in a quantitative field such as Engineering, Mathematics, or Statistics
  • Very bright, highly numerate, ability to handle multidimensional concepts
  • Proficiency in Python and SQL is necessary
  • Experience managing and reporting on financial risk
  • Strong analytical skills coupled with an ability to think strategically
  • Excellent verbal and written communication skills
  • Flexibility to grow and adapt as the business grows
  • Able to challenge with empathy and support as required at times as we develop the business
  • Comfortable with some ambiguity (our world is changing fast)
What We Offer
  • Great medical, dental, and vision insurance options including FSAs
  • Paid time off - we know working hard means also being able to recharge as needed, we trust our employees to get the work done and take the time they need
  • 401(k) plan with employer match
  • Parental leave - biological, adoptive, and foster parents are all eligible
  • Pre-tax commuter benefits
  • Flexible working environment - you need to shift around your schedule? You do you, we genuinely believe in work/life balance
  • Equity Options - every Octopus employee owns part of the business. We're a team, working together towards huge goals. Every person is crucial to our success, you should be rewarded as such
  • Modern office or co-working spaces depending on location

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