OPEN: Senior Energy Markets Analyst

We are currently requesting resumes for the following position: Senior Energy Markets Analyst

Resume Due Date: Thursday, July 11, 2024 (5:00PM EST)

Job ID: 24-093

Number of Vacancies: 1

Level: MP5

Duration: 12 months

Hours of work: 35

Location: 700 University Ave. (Hybrid – 2 days remote)

Job Overview

JOB FUNCTION

• Contribute to the development/modification of business processes and contribute to the implementation, installation & setup of systems for settlements. Confirm, verify, reconcile OPGl’s daily payment amounts for transactions conducted in the Interconnected & Ontario wholesale and retail markets. Verify data and payments and liaise with counterparty contacts.
• Confirm, verify and reconcile with counterparts and ensure that payments to be received/forwarded are accurate and reflect services/products provided/purchased by OPGI. Monitor contracts and agreements and ensure that terms/conditions are properly reflected in internal billing systems. Advise Management on the appropriateness of initiating formal dispute resolution process with counterparties for any discrepancies that cannot be informally rectified to OPGl’s satisfaction.
• Provide on-going strategic guidance to OPGI staff and Front Office staff of Energy Markets in particular. Make qualitative and comparative assessments of the Business’s performance w.r.t. interconnected & Ontario markets performance. Coordinate documentation for submission to internal and external bodies. Liaise and work through an established network of internal and external contacts to secure, protect and advance the interests of OPGI. Keep abreast of current developments in the electricity market and utility industry trends.. Make qualitative and comparative assessments of the Business’s performance. Coordinate documentation for submission of information to internal and external contacts.

JOB DUTIES

• Take a lead role in development of business processes for the settlement function as it will exist in a competitive electricity marketplace (within Ontario and Interconnected markets). On an on-going basis, review the effectiveness of existing settlement processes and initiate changes to these processes as rules/conditions change and/or warrant.
• Provide expert advice on settlement processes in the competitive electricity market.
• Review established business processes used within OPGI, the IMO, and other markets to ensure compliance of actual activities.
• Stay current on Ontario and other jurisdiction Market Rules evolution and revise Settlement processes as necessary. Contribute to formulation of other processes, as market rules evolve.
• Provide on-going reconciliation and verification expertise for OPG Energy Markets revenue streams.
• Ensure all invoices are forwarded to Accounts payable and Accounts Receivable and that funds are transferred.
• Suggest to Management on appropriateness for initiating more formal dispute resolution processes with IMO, LDC or other counterparties where conflicts exist and cannot be rectified through informal reconciliation processes.
• Keep track of disputes, monitor progress on their resolution, provide updates on status (including assessment of benefits associated with the disputes).
• Make bilateral contract amount declarations to the IMO per terms of contracts with bilateral customers and within the timelines outlined in the Market Rules.
• Ensure the quality and accuracy of transactions and settlement statements.
• Ensure completeness and consistency of transaction database.
• Make qualitative and comparative assessments of OPG Energy Markets performance. Track its performance on an on going basis and advise on possible changes to bidding/operations as appropriate.
• Contribute documentation for submission to internal and external agencies (e.g. Electricity Production, IMO, OEB). Support the process to prepare senior staff in the presentation of testimony as required.
• Liaise and work through an established network of internal and external contacts to secure, protect and advance the interests of OPGI.
• Support development of contracts and agreements with customers and suppliers. Assist with the negotiation, administration and monitoring of electricity sales contracts. Produce reports substantiating conclusions and recommendations for marketing analysis.
• Participate on project teams to resolve issues and implement solutions in the competitive environment.
• Keep abreast of current developments in areas of the electricity spot market and pricing of term options, utility industry trends for development of plans, processes, policies and programs.
• Provide management with reports as required.
• Perform limited technical supervision assigning/checking project work with feedback to the supervisor.
• Provide advice, contribute to Team effort accountability for obtaining/maintaining ISO 9000 certification.

Qualifications

EDUCATION

• Requires a knowledge of business administration, commerce, economics, science or engineering with business courses to demonstrate and apply sound analytical thinking skills to develop or modify business processes and implement, install and set-up systems for settlements.
• Requires a knowledge of accounting principles and practices to reconcile daily payment transactions in interconnected and Ontario wholesale and retail markets.
• Requires a good knowledge of oral and written English to ensure effective communication skills.
• This knowledge is considered to be normally acquired through the completion of a four-year University education in the appropriate field such as Business Administration, Commerce, Economics or Engineering, or by having the equivalent level of education.

EXPERIENCE

• Requires experience to become familiar with an energy markets function or with financial market products and services.
• Requires experience ion systems associated with energy market settlements and energy market operations.
• Requires experience to have acquired a working knowledge of trading commodities or financial instruments, risk management principles and associated tools.
• Requires practical experience to have gained an understanding of characteristics of generation station operation including hydroelectric generation, thermal generation and nuclear generation.
• Requires experience to become familiar with the technical interactions and related commercial transactions between large power systems that are interconnected with one other.
• Requires experience in a commercial environment, including intelligence gathering and negotiation activities. Requires a good working knowledge of personal computer applications, including Internet and internal software and systems. A period of over 8 years and up to and including 1O years is considered necessary to gain this experience.