Energy Market Analyst

Energy Market Analyst Location Rochester, MN : POSITION DESCRIPTION The City of Rochester invites applications for: Energy Market Analyst Rochester Public Utilities RPU, a division of the City of Rochester, MN, is the largest municipal utility in the State of Minnesota. RPU serves over 60,000 electric customers and 41,000 water customers in a 60 square mile service area and has revenues nearing $161 million annually. The City of Rochester is committed to a community where all members feel a sense of belonging. We commit to recognizing the diversity of our community members, listening to ALL voices and providing equitable services to create an inclusive place to live, play and work. We believe EQUITY should be at the center of all our work. We strive to represent our community in our teammates, as we know that diverse and inclusive teams are more innovative, and have an empowering impact on the work, progress and culture of our community. It takes us all working together. Nature of Work Under general direction, the Energy Market Analyst is responsible for analyzing data, monitoring electric, energy and environmental markets and forecasting future needs to support RPU's optimization of wholesale power markets. Responsibilities include, but are not limited to, conducting modeling and analysis of RPU's energy portfolio and market consumption; preparing regular monitoring reports and assisting in developing bidding strategies. This position provides work products, data input, and analysis of RPU's portfolio used to craft and implement strategies that maximize the margin on sales and purchases out of and into the wholesale power market and from RPU's joint action agency as well as assuring compliance with federal, state and local regulatory agencies. This position also engages in the day-to-day market activities and executes strategies that provide the maximum amount of return on the City's investment in power generation assets and that effectively utilizes demand side management assets to reduce purchased power. Work requires the use of independent judgment. Pay: The 2024 salary range is $99,041 to $116,519, with advancement to $145,648. To have your application considered in the first round of reviews, please apply before May 20th, 2024 DUTIES AND RESPONSIBILITIES Perform detailed quantitative analysis Conduct modeling and analysis of the energy portfolio and energy consumption to forecast performance. Perform financial analysis on wholesale energy commodity transactions, including day ahead, real time ancillary services and capacity markets. Prepare regular market monitoring reports and propose strategy recommendations. Perform post-analysis of actual dispatch, demand response and system operations. Perform analysis of system energy usage and demands. Development and execute bidding strategies under the direction of the Manager Monitor and analyze energy portfolio performance and identify risks and report areas of concern. Monitor, analyze and report on energy market conditions, interactions and trends. Support contract negotiations by providing technical assistance. Utilize after-the-fact analysis to enhance the planning process, strategies, tools and overall utilization of RPU's portfolio. Maintain knowledge of MISO resource adequacy rules and capacity accreditation processes. Ensure sales and purchases comply with external regulations and internal procedures. Maintain current knowledge of regulatory requirements, including FERC, NERC, MISO, EPA state, local and federal regulations. Analyze multi-departmental strategies to effectively execute transactions. Understand and review MISO settlement statements with Manager Perform other duties as assigned or necessary.
ESSENTIAL FUNCTIONS MINIMUM QUALIFICATIONS Education and Experience A Bachelor's degree from an accredited four-year college or university with major course work in Economics, Finance, Business Administration, Accounting, Engineering, or other related field considered useful in utility industry and 4 years of responsible full-time employment in the utility industry or data analytics realm. OR An Associates degree in Accounting, Electrical Construction, Industrial Mechanics, Engineering or related field and 8 years full-time experience in the electric utility industry
Technical Skills Data analytics, statistical analysis, trending various amounts and types of data and recommending actions based on modeling. Proficiency in MS Excel. Understanding of the electric power grid, and the MISO wholesale market and operations.
Licenses and Certifications Valid Minnesota driver's license
DESIRABLE QUALIFICATIONS Specific training in any/all of the following:
General business, economic & financial knowledge MISO, ASM, LMP market strategies and transaction protocol Functions necessary to participate in an Independent System Operator market including bidding, settlements, shadow settlements, metering, and ancillary services. If this work interests you but you are unsure if you meet all the job requirements listed above, please apply anyway! Your experience is likely more applicable to the role than you think, and the City is interested in candidates who can bring not only technical expertise but a variety of lived experience to the team. ADDITIONAL INFORMATION KNOWLEDGE, SKILLS, AND ABILITIES Knowledge of: trading energy in Midwest Independent System Operator or similar LMP based energy market; ancillary services market in a LMP market; the operation and business practices related to power marketing; the principles and practices of the utility industry; various governing regulations pertaining to the utility industry; the principles and application of workplace safety. Skill in: overseeing and managing all activities related to effective and efficient operation of an electrical power wholesale business unit from directing the business and financial aspects to understanding and guiding the sale and purchase of power and other commodities; using standard and specialized software related to the utility field; dispatching, marketing and settling transactions in wholesale power environment; exercising initiative and organizing oneself with others; prioritizing work and effectively managing allocated time; effectively communicating in all mediums and interpersonally whether speaking with others in a presentation, written formats such as email or documentation, or in verbal conversation. Ability to: comply with various regulatory requirements and trading activities related to renewable energy; comply with business practices for various organizations such as MISO, ISO and/or MRO; independently make complex decisions; establish and maintain effective working relationships with other RPU divisional management and staff; prepare and work with budgets; communicate effectively with various audiences including staff, board, consultants, and regulatory representatives; provide work direction when necessary and effectively convey thoughts and ideas; work in a stressful environment with rapidly changing priorities. PHYSICAL AND ENVIRONMENTAL CRITERIA In compliance with the Americans with Disabilities Act, the following represents the physical and environmental demands for this position. The employee must be able to perform the essential functions with or without accommodation. In consideration of the overall amount of physical effort required to perform this position, the work is best described as Sedentary Work: Exerting up to 10 pounds of force occasionally and/or a negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects, including the human body. Sedentary work involves sitting most of the time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met. Physical demands that may be required continuously (2/3 or more of the time), frequently (1/3 to 2/3 of the time), and occasionally (up to 1/3 of the time) are noted below: Continuous demands: fine dexterity, sitting Frequent demands: walking, standing Occasional demands: lifting, reaching. Sensory requirements necessary in the performance of the essential functions of this position include: sight, hearing, and touch Environmental conditions that may exist in the performance of the essential functions of this job include: NONE (not substantially exposed to environmental conditions)