This role primarily supports physical system coverage and portfolio optimization for a regulated utility, with trading activities focused on cost minimization, reliability, and term load serving positions.Position SummaryResponsible for energy (electricity) purchases and sales from balance-of-the-day to 18 months in advance to maximize Xcel revenues and reduce system costs. Identifies and analyzes technical and fundamental factors affecting market prices, system costs, basis, and availability of power supply and transmission. Profitably trades a combination of ISO markets, OTC forwards & virtual/ congestion products to generate trading margins for Xcel Energy proprietary trading.
Essential Responsibilities- Profitably engages in the proprietary trading of physical and financial energy products. Must operate within defined risk parameters, with a maximum transaction length of 18 months. Develop and implement trading strategies that capture inefficiencies of the market as the result of pricing disparity, congestion and binding constraints.
- Develops and maintains business relationships with other market participants that provide market knowledge and increased trading profitability. Monitors changes in the industry that would affect the profitability of Xcel Energy. Works closely with Origination in order to help develop structured energy products needed by Xcel Energy customers.
- Performs technical and fundamental analysis of futures and forward physical market prices to develop a view of the market for Trading and Origination. Uses analytical skills to provide pricing support for risk management and other trading staff, as needed.
- Manage the natural electric position of the Xcel Energy regulated operating companies through the use of financial, physical, and structured trading products. Operates in both electric markets and natural gas markets. Executes trades with durations ranging from balance-of-the-day to 18 months in duration, in both the physical and financial energy markets. Leverages Xcel Energy regulated operating company assets to create additional profitable purchase and resale opportunities.
Minimum Requirements- BS or BA, preferably with emphasis in marketing, business or technical studies, with a minimum of two years of related experience.
- Two years' profitable experience in trading in one or more of the ISO's to include physical and financial OTC instruments, options, and/or virtual/up-to-congestion/point-to-point products.
- Additional requirements are dependent upon the energy market to which the Energy Trader is assigned.
Preferred Requirements- Experience managing a utility or load-serving entity (LSE) position in bi-lateral and organized markets, including balancing system requirements, generation dispatch, and market purchases/sales.
- Demonstrated experience executing day-ahead, real-time, and balance-of-month transactions to support physical system needs and optimize portfolio costs.
- Working knowledge of ISO/RTO market structures (e.g., SPP, MISO, PJM, WECC), including market rules, settlement constructs, and operational requirements.
- Ability to translate ISO tariff rules, market design changes, and operating procedures into actionable trading strategies and impacts to system operations.
- Experience coordinating across Trading, Generation, Fuels, and Operations to align commercial activity with physical system constraints and reliability needs.
- Strong attention to detail with a proven ability to manage trade capture, confirmations, and position accuracy in fast-moving market environments.
- Experience managing physical and financial positions in a cost-optimization / hedging framework, rather than purely speculative trading.
- Familiarity with congestion, basis, and locational pricing dynamics, particularly as they relate to serving load and managing a generation portfolio.
- Demonstrated ability to operate in a risk-controlled environment, prioritizing system coverage, compliance, and cost minimization.
- Exposure to proprietary trading strategies is a plus, but experience supporting core system coverage and portfolio management is strongly preferred.
Non-Bargaining
The anticipated starting base pay for this position is: $116,300.00 to $165,100.00 per year
This position is eligible for the following benefits: Annual Incentive Program, Medical/Pharmacy Plan, Dental, Vision, Life Insurance, Dependent Care Reimbursement Account, Health Care Reimbursement Account, Health Savings Account (HSA) (if enrolled in eligible health plan), Limited-Purpose FSA (if enrolled in eligible health plan and HSA), Transportation Reimbursement Account, Short-term disability (STD), Long-term disability (LTD), Employee Assistance Program (EAP), Fitness Center Reimbursement (if enrolled in eligible health plan), Tuition reimbursement, Transit programs, Employee recognition program, Pension, 401(k) plan, Paid time off (PTO), Holidays, Volunteer Paid Time Off (VPTO), Parental Leave
Benefit plans are subject to change and Xcel Energy has the right to end, suspend, or amend any of its plans, at any time, in whole or in part.
In any materials you submit, you may redact or remove age-identifying information including but not limited to dates of school attendance and graduation. You will not be penalized for redacting or removing this information.
Deadline to Apply: 06/15/26
