Role: Power Energy Storage Trader Location: Miami, FL Apply:What You Will DoThe role involves dispatching Spearmint's battery storage assets as a member of its Optimization team. The team member will execute energy and ancillary service offers in day-ahead and real-time markets, utilizing Spearmint's internal software and associated forecasting tools.
This professional will report directly to the Head of Optimization and work closely with Spearmint's Research team to utilize quantitative inputs from various sources. They will retain authority to take discretionary actions when appropriate. Understanding of short-term and long-term market risk, and experience in day-ahead and real-time markets is essential. Familiarity with futures and other hedging markets is preferred.
The ideal candidate has experience analyzing and trading power, especially at the nodal level, and possesses a deep understanding of transmission topology, power generation dispatch and bidding, ISO LMP and ancillary service pricing, and power flow constraints. They are resourceful in their utilization of information; efficient in decision-making; and eager to absorb market risk in a disciplined environment with a shared goal of generating superior risk-adjusted energy trading results.
Core Responsibilities:- Participate actively in around-the-clock physical dispatch of battery storage resources.
- Work closely with Research Teams to evaluate and refine Spearmint's programmatic optimization and software development.
- Identify likely transmission constraints in day-ahead and real-time markets and incorporate those expectations to adjust Spearmint's optimization strategy appropriately.
- Monitor daily performance and risk metrics relevant to Spearmint's operations; communicate performance transparently to relevant personnel internally and externally
- Understand when market conditions warrant interrupting automated market bidding, taking more discretionary action to optimize the asset's optionality
- Execute trades manually when appropriate
- Contribute to Spearmint's understanding of appropriate hedging activity to ensure adequate storage revenue over long term of offtake agreements
- Potentially execute in futures and options markets for energy price volatility as opportunities arise
- Develop bilateral relationships with counterparties and intermediaries representing companies whose exposures are complementary to Spearmint's
- Structure transactions that enable Spearmint to manage exposures while maintaining optionality. Transact at attractive valuations
Who You Are- Bachelor's Degree or higher in a quantitative discipline
- At least two years of power trading experience, including physical and financial market participation.
- Strong understanding of energy and ancillary market dispatch
- Understanding of risk management and ability to maximize revenue subject to risk constraints
- Ability to work effectively with, and manage, cross-functional teams
- Understand asset ownership and inherent optionality; seek to maximize options at all times
- Contribute meaningfully to Spearmint's collective understanding of hub and nodal pricing
- Utilize and advance the science of storage revenue modeling in cooperation with Spearmint's research organization
- Be a team player at all times, with shared responsibilities and expectations
- Embrace a disciplined entrepreneurial culture
- Possess and maintain effective computer skills, especially those required for analyzing data and translating into trading execution
- Have a valid driving license and passport. Travel may be required on short notice
Must have work authorization to work in the United States
