Energy Trader or Senior Energy Trader - West Power Markets Job

Xcel Energy is seeking an experienced Energy Trader or Senior Energy Trader for its Denver, CO location. The role involves trading energy derivatives in the Western Interconnect and related markets to maximize revenues and reduce costs. Candidates should have a relevant Bachelor's degree and at least four years of energy trading experience. While candidates from outside the Denver Metro area are accepted, relocation to Denver within 6 months of hire is required.
Location(s): CO - Denver

Are you looking for an exciting job where you can put your skills, talents and education to work at a company you can feel proud to be a part of? Do you want a workplace that will challenge you and offer you opportunities to learn and grow? A professional position at Xcel Energy could be just what you’re looking for.

Xcel Energy is seeking an experienced Energy Trader.

Please note: we will accept candidates from outside the Denver Metro area, however, relocating to Denver within 6 months of hire will be required.

Please note the following criteria specific to this role:
• Preference for a Bachelor's degree in Economics, Mathematics, Finance, Engineering or related discipline and four years of experience in energy trading.
• At least three years of experience in:
• Profitable trading in a variety of products, including power and gas forwards, options, and swaps out to 5 years in advance of delivery
• Western Interconnect, Pacific Northwest and California ISO (Independent System Operator) supplemental market and physical markets (Mid-C, Palo Verde, and CAISO delivery hubs)
• Working collaboratively on trading teams and in mentoring junior team members
• Working with Wholesale Power customers to deliver Physical and Financial risk mitigation and hedging solutions for their commodity risks
• Developing hydro models for the Pacific NW and WECC fundamental models that have led to profitable trading strategies

Duties:
• Trade Western Interconnect, Pacific Northwest and California ISO energy derivatives (electricity, cross-commodity, gas, and Renewable Energy Certificates), using purchases and sales from day ahead to five years in advance to maximize Xcel Energy Services' asset-based revenues and reduce system costs. Identify and analyze technical market factors and fundamental factors that affect system costs, market prices, basis, and availability of power sources; generate trading margins for both Xcel Energy Services proprietary trading and electric system management utilizing power markets swaps and options and NYMEX products.
• Work with and mentor junior traders.

Summary
Responsible for energy (electricity & cross-commodity) purchases and sales from day ahead to 18 months in advance to maximize Xcel revenues and reduce system costs in the western interconnection. 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, OTC options, & NYMEX products to generate trading margins for Xcel Energy proprietary trading and system management books

Essential Responsibilities
• Aggressively 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 one day to 18 months in duration, in both the cash and financial energy markets. Leverages Xcel Energy regulated operating company assets to create additional profitable purchase and resale opportunities. Utilizes transmission, displacement and purchased power contract delivery flexibility to increase the utilization of Xcel Energy regulated generating and purchased power resources.
• 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.
• Work with Analysts to develop tools that track and analyze current and anticipated unit outages, hydro conditions, transmission constraints and other fundamental market conditions that affect forward prices and market opportunities. 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.
• Identifies availability and secures transmission service for electric transactions through Open Access Same-time Information Systems (OASIS). Uses extensive knowledge of the transmission grid to create arbitrage opportunities. Purchases forward transmission positions on constrained paths when appropriate.
• Supports the activities of Origination and Real-time Trading to ensure accurate and timely processing of transactions. Initiates trading contacts and provides transmission support for Real-time trading.

Required
• Bachelor's degree with emphasis in Marketing, Business or technical studies
• 2 years related experience
• 2 years experience in trading RTO, OTC options, ISO and/or CAISO supplemental market and physical markets
• Additional requirements are dependent upon the energy market to which the Energy Trader is assigned

Preferred:
• Preference for a Bachelor's degree in Economics, Mathematics, Finance, Engineering or related discipline and four years of experience in energy trading.
• At least three years of experience in:
• Profitable trading in a variety of products, including power and gas forwards, options, and swaps out to 5 years in advance of delivery
• Western Interconnect, Pacific Northwest and California ISO (Independent System Operator) supplemental market and physical markets (Mid-C, Palo Verde, and CAISO delivery hubs)
• Working collaboratively on trading teams and in mentoring junior team members
• Working with Wholesale Power customers to deliver Physical and Financial risk mitigation and hedging solutions for their commodity risks
• Developing hydro models for the Pacific NW and WECC fundamental models that have led to profitable trading strategies

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As a leading combination electricity and natural gas energy company, Xcel Energy offers a comprehensive portfolio of energy-related products and services to 3.4 million electricity and 1.9 million natural gas customers across eight Western and Midwestern states. At Xcel Energy, we strive to be the preferred and trusted provider of the energy our customers need. If you’re ready to be a part of something big, we invite you to join our team.

Posting Notes: CO - Denver || CO - Denver || United States (US) || Generation || 25230:Man Dir Energy Trading || Full-Time || Non-Bargaining ||

Requisition Number: 24961

Equal Opportunity Employer: Minority/Female/Disability/Veteran

Individuals with a disability who need an accommodation to apply please contact us at recruiting@xcelenergy.com