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Senior Associate, Quantitative Analytics- Power Markets

clearwayjobs · 30+ days ago
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What The Role Is

As a part of the fundamentals & structuring team, the quant modeler will be responsible for a variety of activities from short and long-term econometric or statistical analysis of power markets and adding quantitative power to fundamental market analysis to assisting structuring and BESS modeling activities and supporting trading/optimization/hedging.

This hybrid role will be co-located in your home office and one of our headquarters offices two days a week, in San Francisco, Carlsbad, Scottsdale, Houston, or Princeton.

What You'll Be Doing

Market analysis & research 

  • Analyze actual/historical market data such as load, generation, heat rates, and gas prices to identify major drivers of power price formation and volatility.
  • Identify trends and insights on market evolution to refine near-to-long fundamental modeling and scenario analysis.
  • Provide analytical insights from modeling results to support risk management, trading activities, and/or market advocacy.
  • Stay abreast of changing market conditions at both macro and micro levels, and their impact on markets.

Economic/Quantitative Modeling 

  • Refine vendor models or develop in-house models for capacity expansion with a view on market policy (RPS/GHG reduction), LCOEs, retirements, transmission, reliability, and demand growth. 
  • Develop models to analyze the impact of renewable penetration on market volatility, scarcity prices, ancillary services, ELCC, and renewable capture price. 
  • Develop stochastic models to forecast load, wind, and solar uncertainty, and their impact on market volatility and asset valuations of conventional gas and BESS assets. 
  • Support conventional asset dispatch modeling and HRCO/Toll/option pricing. 
  • Develop Stochastic or Machine Learning models to forecast next-day DA, Ancillary, and RT prices based on fundamental variables like load, gas prices, wind+solar generation, etc. 
  • Analyze trading forwards in comparison with spot prices and fundamental forecasts to inform a view on trading strategies, risk premium, and contract pricing. 
  • Quantitative modeling and automation of the modeling processes for Clearway asset revenue optimization with the use of data science and optimization.

Data Science & Reporting 

  • Develop centralized databases and streamline workflows to retrieve market data such as interconnection queues, generator bids & offers, transmission flows, etc.
  • Analyze the above datasets to provide input into fundamental modeling and other market optimization strategies.
  • Create insightful market dashboards using Power BI or similar platforms to allow quick dissemination of information across the teams. 

What You'll Bring

  • Master’s or PhD in Engineering, Finance, Mathematics, Statistics, Power, Economics and/or Business or comparable.
  • Minimum of 7 years of experience in an analytical role at an energy trading firm, IPP, ISO, or Utility.
  • Programming skills required: Python is a must, R, SQL, etc.
  • Experience with linear/Mixed Integer programming and associated tools like Gurobi, CPlex, etc.
  • Working experience with stochastic models and the ability to develop models from scratch.
  • Strong understanding of market economics, game theory, opportunity cost, option valuation, and optimization.
  • Experience or working knowledge of Security Constrained Economic Dispatch (SCED), Production Cost, & Capacity Expansion models like Aurora, Plexos, PROMOD or Dayzer, gas asset dispatch modeling, HRCO, toll valuations
  • Strong understanding of power markets, economics, and quantitative/econometric models.
  • Understanding extrinsic value, option pricing, and volatility.
  • Ability to formulate and articulate viewpoints (written and verbal) in a clear, persuasive, and succinct manner.
  • Ability to handle multiple concurrent efforts and provide high-quality deliverables accurately and on time.
  • Ability to work well in a fast-paced, team-oriented, collaborative environment that emphasizes attention to detail, meeting deadlines, and working together to achieve company-wide objectives.
  • Strong interpersonal, analytical, and problem-solving skills.
  • Understanding optimization modeling.
  • If you don’t meet 100% of the above qualifications but see yourself contributing, please submit your resume.

Clearway will not sponsor nonimmigrant visas for this position (H-1B, TN, E-3, etc.)

The pay rate for the successful candidate will depend on geographic location, skills, relevant and demonstrated experience, education, training and certifications, and other factors permitted by law. This role is eligible to earn an annual cash bonus, subject to personal and company performance goals.

Salary Range Across all U.S. Locations
$145,000$187,000 USD

Clearway Energy Group is leading the transition to a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., we own and operate 10 gigawatts of renewable and conventional energy assets across the country. As we develop a nationwide pipeline of new renewable energy projects for the future, Clearway’s 8 gigawatts of operating wind, solar, and energy storage assets offset the equivalent of more than 9 million metric tons of carbon emissions for our customers today. Clearway Energy Group is headquartered in San Francisco with offices in Carlsbad, CA.; Scottsdale, AZ.; Houston, TX; Denver, CO; and Princeton, NJ. For more information, visit clearwayenergygroup.com.

Our Commitment to Diversity, Equity, & Inclusion
At Clearway, we create a community that isn’t about being the same – it’s about building a team of unique individuals, with different backgrounds & skill sets, coming together to build something big & make a difference in the world. Clearway’s team is dedicated to a clean energy future across a wide spectrum of roles & responsibilities. Embodying our company values and operating principles, unique individuals come together over a common mission. We embrace opportunities to do challenging work that can change the world. We aspire to bring out the best in everyone. We share setbacks, celebrate successes, & act with integrity & accountability to get the job done.

Working at Clearway, Hybrid Together
Here at Clearway, we’re committed to balancing flexibility while fostering strong relationships with our teammates. We do this by prioritizing new hires based near one of our offices in San Francisco, Carlsbad, Scottsdale, Houston, Denver, & Princeton. Our office-based employees typically work together from fabulous spaces on Tuesdays & Thursdays to collaborate & learn, build community, get to know one another, & enjoy company-provided meals & events.

Clearway Energy is an equal opportunity employer that values a broad diversity of talent, knowledge, experience & expertise. We intentionally foster a culture of inclusion that empowers our employees to deliver superior performance to the communities we serve. We encourage minorities, women, individuals with disabilities & protected veterans to join the team. Clearway is a proud promoter of employment opportunities to our Military & Veterans.

What We Provide
Clearway offers all eligible employees working 20+ hours per week a comprehensive menu of benefits: generous PTO, medical, dental & vision care, HSAs with company contributions, health FSAs, dependent daycare FSAs, commuter benefits, relocation, & a 401(k) plan with employer match, a variety of life & accident insurances, fertility programs, adoption assistance, generous parental leave, tuition reimbursement, & benefits for employees in same-sex marriages, civil unions & domestic partnerships. For more on Clearway benefits, visit our Benefits Website.

Notice to Applicants
Clearway Energy is strongly committed to a philosophy of equal opportunity and fully complies with equal employment laws, ordinances and regulations for all applicants and employees. We will make reasonable accommodations to enable individuals with disabilities to apply and compete for employment opportunities for which they are qualified. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to recruiting@clearwayenergy.com and let us know the nature of your request and your contact information.

Notice to California Applicants
Clearway Energy is strongly committed to a philosophy of equal opportunity and fully complies with equal employment laws, ordinances and regulations for all applicants and employees.

Last updated on Mar 8, 2024

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