Flexible Work Arrangement: Hybrid - Audubon, PA
The Sr. (Lead) Analyst/Engineer will support the Capacity Market Operations Department to successfully manage the $12 billion per year PJM Capacity Market that is used to ensure the reliability of the PJM system. This is a dynamic and exciting area where the PJM resource mix and associated market rules evolve based on competition, public policy and new technologies. The team manages all aspects of the capacity market including helping our members with their specific needs. The candidate will have the opportunity to help determine the future policy, processes and systems to support one of the largest capacity wholesale markets in the world.
The candidate will help manage the capacity auction clearing process and associated financial settlement. This will involve the management of the inputs, optimization engine and outputs of the RPM auction clearing process and the publication of associated public reports. The candidate will also help with the financial analysis of default minimum offer prices, default maximum offer prices, reference resource price used to determine the demand curve and power plant estimated net revenues.
The candidate will support various software integration projects to implement changes to PJM market rules and upgrades to new technology. The successful candidate will be responsible for documenting detailed functional and technical requirements, will work closely with the software development team to implement those requirements, and will be responsible for ensuring the software delivery meets the business need. The candidate will support various software integration projects to implement changes to PJM market rules and upgrades to new technology. The successful candidate will be responsible for documenting detailed functional and technical requirements, will work closely with the software development team to implement those requirements, and will be responsible for ensuring the software delivery meets the business need.
Essential Functions:
Administer the auction process and publish the associated analysis of the results.
Financial analysis of power plant costs and revenues to determine default floor and cap prices used for mitigation and price used to determine the demand curve.
Provide exceptional customer service to the membership. Must be able to address specific customer issues in a clear, concise and professional manner through excellent communication.
Develop and produce performance metrics, reports, empirical analysis and presentations to improve the transparency and operation of the PJM Capacity market.
Work on a collaborative basis to determine, define and test system solutions for changes in market rules and/or to improve the effectiveness of the overall operational processes.
Read, analyze and understand PJM Tariff and Manuals in order to convert market rules into robust operational processes.
Develop and update training material (MS PowerPoint documents) and assist with training stakeholders.
Characteristics & Qualifications:
Required
Bachelor Degree: Economics, Engineering, Finance, Computer Science or other similar major.
At least 3 years of experience in data analytics and quantitative analysis using SAS, SQL, Python or other similar tools. Must be able to consolidate data into meaningful information.
Track record that demonstrates attention to detail – must be able to verify work is complete and accurate. Implement quality controls to minimize operational risks.
Proficient with MS Excel including the development and maintenance of complex workbooks.
Customer focused with ability to communicate effectively (verbal and written)
Knowledge of electricity wholesale markets.
Preferred
Graduate degree (PhD, MA, MS or MBA)
Experience with the PJM capacity market rules and the settlement process.
Power plant financial modelling and analysis
Skills Required
- Bachelor’s degree in Economics, Engineering, Finance, Computer Science, or a similar major
- At least 3 years of experience in data analytics and quantitative analysis using SAS, SQL, Python, or similar tools
- Ability to consolidate data into meaningful information
- Demonstrated attention to detail and ability to verify work for completeness and accuracy
- Ability to implement quality controls to minimize operational risks
- Proficiency with Microsoft Excel, including developing and maintaining complex workbooks
- Strong verbal and written communication skills with a customer-focused approach
- Knowledge of electricity wholesale markets
- Graduate degree such as PhD, MA, MS, or MBA
- Experience with PJM capacity market rules and settlement processes
- Power plant financial modeling and analysis experience
What We Do
PJM Interconnection manages the high-voltage electric system that provides power to 65 million people in all or parts of 13 states and the District of Columbia. It's the largest power grid in North America. As a neutral, independent party, PJM administers a competitive wholesale electricity market. PJM’s long-term regional planning process provides a broad, interstate perspective that identifies the most effective and cost-efficient improvements to the grid to ensure reliability and economic benefits. PJM serves all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia. An independent board oversees PJM’s activities. Effective governance and a collaborative stakeholder process help PJM achieve its vision: “To be the electric industry leader – today and tomorrow – in reliable operations and efficient wholesale markets.”
