Finance Manager as US Power Modelling Analyst

Company: RWE Renewables GmbH
Location: Chicago
Posted on: March 20, 2023

Job Description:

RWE Renewables Americas LLC , Austin, Chicago, Boston To start as soon as possible, Full time , Permanent Functional area: Commercial / Trading Remuneration: Exempt Purpose:Energy and electricity markets are rapidly changing with the deployment of intermittent renewables and energy storage. Our team of analysts forecasts the impact of these changes on energy and electricity prices with a focus on Europe and selected US markets with the goal of reducing uncertainty for decision makers. To improve and expand our modelling scope, we are looking for a US Power Market Modelling Analyst. You will incorporate fundamental price drivers such as fuel commodity prices, regulatory changes, and conventional and renewables capacity development into a production cost model and quantify the impact of these drivers on wholesale electricity prices. You will improve and expand our forecasts, perform model runs, check model plausibility, and back-test model results. You will communicate and explain your findings directly to our main stakeholders such as commercial analysis, strategy, regulatory affairs, controlling and finance to support portfolio decisions, lobbying activities and financial planning. Modelling focus for this position is PJM/NYISO but knowledge on other US electricity markets such as MISO and/or CAISO is also advantageous. You will need to understand and market-specific design elements such as price formation, capacity auctions, and co-optimization of energy and reserves. Job Descriptions:

• Analyse relevant fundamental drivers (existing grid and line capacity and availability, technical gird parameters, residual load, interconnection capacity, regulatory changes, etc.)
• Compile time series for all relevant power model inputs
• Work together with commercial functions to collect the best available knowledge
• Transfer market design into model logic
• Model calibration & backtesting
• Perform model runs and develop model scenarios incl. stochastic model development
• Automate model input updates and model result processing
• Interpret model results to provide decision-oriented consulting services to support portfolio decisions, lobbying and financial planning
• Understand and evaluate external studies and forecasts
• Deliver long term market view for strategic projects and general valuations Requirements:
  • University Degree in Engineering, Economics, Finance, Mathematics, Physics or equivalent. An advanced degree with an electricity market focus is a plus.
  • Strong conceptual understanding electricity market concepts such as security-constrained economic dispatch and unit-commitment, nodal/zonal price formation, capacity auctions, co-optimization of energy and reserves, "missing money," and levelized cost of electricity.
  • Professional experience at an ISO, RTO, or in a consulting role with an electricity market focus is a plus
  • Experience in fundamental modelling, particularly production cost modelling for electricity markets. Experience with production modelling tools such as PLEXOS, AURORA, PROMOD, UPLAN, or similar or mathematical programming languages like GAMS is a plus
  • Very strong quantitative and analytical skills (transfer of algorithms into model conduct)
  • Excellent communication skills
  • Ability to transfer knowledge between analysis and decision makers in other departments with an interdisciplinary approach
  • Excellent IT skills inc. ability to model in main languages as Python and in the MS Windows environment (particularly Excel, Access)
  • Experience interfacing with databases (SQL, R)
  • Language skills: fluent in English, other European languages are advantageous
  • Very good team player, high level of self-motivation and flexibility, ability to work in a competitive environment and to meet tight deadlines Apply now with just a few clicks: ad code 79556 We look forward to meeting you! We value diversity and therefore welcome all applications, irrespective of gender, disability, nationality, ethnic and social background, religion and beliefs, age or sexual orientation and identity. Of course, you can find us on LinkedIn, Twitter and Xing, too. RWE represents change, innovation and sustainability. As one of the world's leading generators of electricity from renewable energy sources, we aim to be carbon-neutral by 2040 and to enable a sustainable life for people around the world. To achieve this, we are looking for dynamic and motivated people to join us in creating a sustainable and secure energy future. RWE Renewables GmbH, based in Essen, Germany, is RWE's youngest subsidiary and one of the world's leading companies in the field of renewable energies. With an international team of around 3,500 employees, we are drivers of the energy transition - and provide electricity for a sustainable life. Our total capacity of more than 9 gigawatts results from onshore and offshore wind parks, photovoltaic plants and battery storage. We focus on growth: on the American continent, on the European core markets and on new markets in the Asia-Pacific region.

Keywords: RWE Renewables GmbH, Chicago , Finance Manager as US Power Modelling Analyst, Accounting, Auditing , Chicago, Illinois