Power Portfolio Manager

4 weeks ago

Houston, Texas, United States Octopus Energy Group Full time
Job Description

Join the Octopus Energy Group team as a Power Portfolio Manager and play a key role in shaping the company's renewable energy strategy. As a Power Portfolio Manager, you will be responsible for managing retail supply activities in the ERCOT power market, identifying and mitigating risk exposures, and optimizing the utilization of demand response programs to drive gross margins.

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 program to help manage risk
  • 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 (both within Octopus Energy US and the wider Octopus Energy group) 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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