data scientist

Octopus Energy Ltd; City of Westminster; On-site; GBP 70,000 - 100,000; Full time

Job summary

Octopus Energy Trading is seeking a data scientist to build data pipelines and forecasting models for the GB intraday power market. You will develop forecasting frameworks and integrate internal and external data to create market-leading insights using both classical and ML techniques.

Working across Trading, Renewables and other teams, you will forecast demand, renewables, and grid fundamentals with a focus on GB intraday forecasts, contributing to the Net Zero transition.

Qualifications

• Experience with Python is essential.
• Experience with Machine Learning is essential.
• Good understanding of forecasting techniques and ability to iterate quickly.
• Ability to communicate approach, strengths and limitations.

Responsibilities

• Explore data needs to trade GB intraday power market.
• Build, improve and maintain forecasting models for demand and renewable generation.
• Identify high-quality data sources for forecasts.
• Develop forecasting framework and tools.
• Automate forecasting processes with checks and alerting.
• Use forecasts to enhance price forecasts and trading decisions.
• Collaborate with Trading, Renewables, Flexibility and other teams.

Skills

Python

Machine Learning

Forecasting

Communication

Teamwork

Net Zero

Industry knowledge GB electricity

Job description

• Exploring the types of data needed to effectively trade the GB intraday power market
• Building, improving and maintaining models to forecast electricity demand and renewable generation, primarily in GB but developing into all of Western Europe;
• Finding high quality, novel data sources to base our forecasts off of;
• Development on forecasting framework and tools;
• Maintaining and automating forecasting processes, whilst building in checks and alerting;
• Utilising these forecasting models to build or enhance our price forecasts
• Collaborating with Trading, Renewables, Flexibility and other teams to utilise our combined knowledge and data.
• Experience with Python is essential;
• A good understanding of what forecasting techniques to use and the ability to build a simple baseline and quickly iterate;
• Ability to communicate your approach, including its strengths and limitations;
• Able to quickly understand commercial and industry concepts;
• Team player excited at the idea of ownership across lots of different projects and tools;
• Passion for driving towards Net Zero;
• Experience with Machine Learning is essential;
• Experience in the electricity industry in GB would be useful but not required.

At Octopus Energy Trading, we're on a mission to reshape the future of energy. As part of Octopus Energy Group, we're creating an innovative approach to trading that will accelerate the transition to a Net Zero world. With the growth of renewables and a push toward decarbonising heating and transport, greater flexibility in the grid is essential. We are building cutting-edge technology to optimise everything from domestic EV charging to grid-scale batteries, to meet the global demand for energy flexibility., With an increase in variable and distributed supply, using data for trading and forecasting has never been more important. Octopus has always had a tech-first approach, and our trading and analytics tools are all built in-house. We are looking for a data scientist who's comfortable building data pipelines bringing together internal and external data to create market leading insights using both classical and ML techniques. This will include looking at demand, renewables and transmission system fundamentals forecasts focussed to begin with on the GB intraday power market.