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Director Energy Supply Merchant

Date:  Jun 24, 2022
Job ID:  2893
Location: 

Bellevue, WA, US, 98004

Remote and Hybrid Work Opportunities:  Hybrid (WA Based)

Puget Sound Energy is looking to grow our community with top talented individuals like you!  With our rapidly growing, award winning energy efficiency programs, our pathway to an exciting and innovative future is now.

 

PSE's Energy Supply Merchant team is looking for qualified candidates to fill an open Director Energy Supply Merchant position!
Specific details regarding the work arrangements for this position will be discussed in further detail during the interview process.

Job Description

Puget Sound Energy is looking for a Director Energy Supply Merchant to manage utility revenue and portfolio costs for both electric and natural gas.  This position leads PSE’s Energy Supply Management (ESM) organization with approximately 55 employees in regards to the procurement, and marketing of energy supply for our customers.

 

This organization is currently undergoing change which requires a leader to share in our vision to operate successfully within still being formed resource adequacy program, under evaluation day ahead markets, and potential RTO formation.  The ideal candidate will have experience managing a highly effective team and leading through change.  Experience in organized markets with a strong knowledge of the western U.S. power markets will be necessary.  

 

This is an exciting time to join PSE for someone that wants to in the forefront of developing and leading an organization into the world of organized markets.

 

Responsible for oversight and performance of the Resource Adequacy program, merchant transmission optimization, and regional energy market design and integration.  Ensures compliance with relevant risk management policies, procedures, and regulatory requirements. Holds responsibility for, and oversees, key front office activities including energy procurement, risk management, scheduling and dispatch, performance to the energy procurement plan, and physical operations of the ESM function. Prepares and presents proposals for energy procurement plans and operational business decisions to the Energy Risk Management Committee (ERMC) and Board of Directors. Directs the preparation and delivery of testimony to ensure appropriate revenue recognition. 

Job Responsibilities

•    Manages utility revenue and portfolio cost to reduce or eliminate financial risk associated with exposure to western power and gas markets.
•    Delivers required financial results while ensuring reliable operation of both PSE utilities.
•    Directs the first line of defense in identifying, managing, and mitigating commercial financial risk to investors.
•    Directs and delivers monthly financial performance reviews to the ERMC.
•    Develops and executes regulatory strategies and delivers testimony that deliver revenue generating outcomes.
•    Directs the Resource Adequacy Program and all associated regulatory filings.  Ensures conformance with adequacy standards.
•    Directs market design efforts and ensures commercial conformance with all financial, regulatory, and compliance requirements.
•    Directs the portfolio management and financial optimization of the merchant transmission and gas pipeline conveyance portfolios.
•    Complies with and ensures overall ESM compliance with risk policies, procedures, safety standards, and regulatory requirements.
•    Formulates strategic plans and objectives and recommends energy procurement, hedging strategies, and supporting operational needs to the Energy Risk Management Committee, and Board of Directors.
•    Identifies evolving energy market and industry dynamics positions PSE to maintain competitive energy supply in the market.
•    Monitors and manages market risk, operational risk, market liquidity risk, model risk, compliance risk, and counterparty risk within prescribed limits.
•    Reviews risk exposure reports and energy procurement performance to plan regularly and reports deviations to the Energy Risk Management Committee.
•    Conducts monthly performance meetings to evaluate energy cost variance to plan.  
•    Creates, presents, and communicates the ESM strategy and overall annual operating budget. Manages the ESM business function against approved budgets and holds responsibility for overall staffing decisions.
•    Collaborates with long-term resource and planning groups inside PSE to review asset acquisitions.
•    Ensures ESM implements the requirements of new policies and procedures and develops corresponding procedures to meet compliance within ESM.
•    Ensures ESM personnel are properly trained, have the necessary tools, and have the relevant knowledge, background, and experience to perform their duties.
•    Represents the company externally on issues pertaining to reliability, generation dispatch, and reserve requirements in regional and national organizations and forums.

Minimum Qualifications

•    Bachelor’s degree in Business Administration, finance, economics, or related.  
•    Minimum ten (10) years’ experience in energy trading, commercial structuring, resource development, operations or related with relevant supervisory and budget responsibility.
•    Demonstrated regional participation in energy market development with established regional relationships with market participants and other entities active in the western energy ecosystem.
•    Strong understanding of energy markets and a working knowledge of applicable risk management practices.
•    Demonstrated strong leadership and communication skills.
•    Significant expertise in economics, finance, or trading programs..
•    Able to effectively present both internally at all levels of the organization and in public forums. 
•    Strong written and verbal communication skills, and an ability to interact with all levels of a corporation.
•    Highly motivated and collaborative.

Desired Qualifications

  • Master’s degree in Business Administration or equivalent graduate work in finance, economics, or market design.
  • Regional leadership in western power and gas markets, regulatory frameworks, and a network of close contacts with regional stakeholders.
  • Regional leadership in carbon market design.
  • Regional commercial leadership with an established book of successful transactions

Additional Information

Families and businesses depend on PSE to provide the energy they need to pursue their dreams. Our steadfast commitment to serving Washington communities with safe, dependable and efficient energy started in 1873. Today we're building the Northwest's energy future through efforts like our award winning energy efficiency programs and our leadership in renewable energy.

 

At PSE we value and respect our employees and provide them opportunities to excel. We offer an expansive pay package that includes competitive compensation, annual goals-based incentive bonuses, comprehensive benefits, 401(K), a company paid retirement pension plan, and an employee assistance and wellness program.

 

Puget Sound Energy is committed to providing equal employment opportunity to all qualified applicants. We do not discriminate on the basis of race, color, religion, sex, national origin, age, sexual orientation, gender identity, marital status, veteran status or presence of a disability that with or without reasonable accommodation does not prevent performance of the essential functions of the job, or any other category prohibited by local, state or federal law.

 

Should you have a disability that requires assistance and/or reasonable accommodation with the job application process, please contact the Human Resources Staffing department at jobs@pse.com or 425-462-3017.


Nearest Major Market: Seattle
Nearest Secondary Market: Bellevue