Company Overview
Plus Power is an energy storage market leader, with a market-leading 10+ GW portfolio across more than 25 US states and Canadian provinces that will transform North American electric grids into cleaner and more versatile critical infrastructure.
Standalone energy storage is rapidly transforming the North American energy markets, because it is cheaper than new natural gas plants, faster to build than fossil peakers or transmission, and able to perform diverse energy services. Plus Power partners with electricity system operators, utilities, and investors to originate, develop, finance, own and operate standalone energy storage projects that provide critical services to the wholesale electric market. Plus Power’s team applies an intentional mindset to energy storage development by using a data-driven approach to development and operations.
At Plus Power, we are focused on solving hard climate problems, profitably. We are growing fast, and value candidates who, like us, share a focus on setting high expectations, owning and learning from mistakes in the spirit of radical transparency, and are committed to internal partnering as a key element of our ideas meritocracy. Our team praises Plus Power’s culture and excels through our game-changing mission and supportive ecosystem.
About the Role
Plus Power recruits outstanding energy industry professionals who are driven to develop, build and operate assets safely and reliably to decarbonize the power markets while growing their careers. Our team looks for data-driven and fact-based mindsets, engaging and collaborative behaviors, and personal growth-focused professionals.
In order for the global energy system to make the transition from a carbon-based grid, to a renewable energy grid, large scale energy storage must be introduced into the electricity system to balance intra-hour supply and demand. Energy storage is the enabler of high penetration variable renewable generation like solar and wind.
We are looking for a Senior Vice President of Trading & Algorithm to join the Commercial team.
Key Responsibilities
- Develop and direct the Plus Power Energy Trading function for asset optimization for all Plus Power merchant battery energy storage projects
- Oversee algorithmic trading and software team (product scoping, benchmarks, improvement, etc.)
- Develop and implement processes for optimizing energy revenue in the Day Ahead and Real Time markets in conjunction with Plus Power’s algorithmic trading program
- Established hedge trading positions to optimize risk adjusted revenues in RTO markets
- Provide consultative review of asset hedging transactions prior to execution that considers market and credit risk implications in the decision-making process
- Regularly review market positions to identify risk drivers and recommend strategies for risk mitigation and/or revenue enhancement
- Lead reporting of daily, weekly, monthly, and YTD positions and P&L
- Advise on improvements in modeling forward asset positions for both intrinsic and extrinsic values and greeks
- Lead cross-functional projects relative to system implementations and enhancements, quantitative modeling, and process improvement
- Recruit and develop energy trading personnel to create an industry-leading energy trading function at Plus Power
- Monitor daily market exposures and position reports
- Perform analysis, drafts memos, and present profit and loss results to senior management following significant market events and to address risk mitigation opportunities
Skills & Qualifications
- Minimum BA/BS in electrical engineering, economics, finance or related field; advanced degree preferred.
- 7+ years in North American electricity and natural gas markets trading roles with progressively increasing levels of responsibility
- 7+ years of experience in trading in the North American natural gas and/or electric industry
- Knowledge of and experience trading DA-RT markets in ERCOT, ISO-NE, PJM, and other RTOs
- Excellent quantitative and analytical skills
- Excellent communication, writing, and presentation skills - with the ability to interface effectively with all levels of management
- Ability to explain complex technical analysis in a simplified matter to the internal management team and/or external parties
- Ability to identify continuous improvement opportunities and takes initiative to drive solutions; works effectively without direct supervision in a fast paced and multitasking environment
- Demonstrated ability to manage multiple projects and create capacity
- Ability to anticipate unique business decisions and situations and respond accordingly
- Experience leading and delivering projects under tight deadlines
- Demonstrated ability to work well in a cross-functional environment with both technical and non-technical team members
- Experience supervising and managing others
- Ability to effectively use Microsoft Office products – Word, Excel, Power Point
Compensation, Location, and Benefits
Highly competitive total compensation from one of North America’s leading energy storage developers, owners and operators. Flexible, work from home or hybrid work from Plus Power’s offices in San Francisco, Houston, Chicago, Seattle, and Palm Beach.
The expected salary range* for this position begins at $275,000. We may ultimately pay more or less than the posted range based on several factors including, but not limited to relevant experience, skills, qualifications, geographic labor market, and other factors consistent with applicable law. This position is also eligible to participate in our annual bonus program.
Plus Power offers a comprehensive benefits program, unlimited vacation, flexible remote work, educational assistance, parental leave, and a highly engaging company culture with opportunities for in-person connection and learning and growth.
The deadline* for applying to this role is 12/23/24
Plus Power is committed to a diverse and inclusive workplace where people of all backgrounds can thrive. Plus Power is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, or other legally protected status.
*This information is provided in accordance with applicable law.
