Energy Market Analyst (PJM & ERCOT) P&L & Hedging

Base Power; Austin (TX); On-site; USD 90,000 - 140,000; Full time

Job summary

Base is building a next-generation power company by deploying distributed batteries to transform the grid into a resilient system. The Market Analyst will own P&L reporting and risk tracking for the battery fleet and retail operations, building PJM pricing models and driving hedging decisions in ERCOT and PJM.

You’ll work with Finance, Growth, and Legal & Policy to identify opportunities and ensure accurate margin calculations, contributing to strategic market expansion and revenue growth.

Qualifications

• Energy markets knowledge: understand wholesale market basics in ERCOT and PJM, and how retail pricing and operations work.
• Commercial sense: understand how a retail offer makes or loses money, and explain cost, margin, and risk.
• Risk and statistics: think in distributions; recognize tail-heavy power prices; basic statistics suffices.

Responsibilities

• Build a bottoms-up retail pricing model for PJM that builds on the ERCOT model.
• Integrate PJM into risk system and P&L reporting to track margin and sourcing.
• Identify new market opportunities and coordinate with Finance, Growth and Legal & Policy to realize them.
• Recommend hedging strategy changes in ERCOT and PJM and monitor exposure against risk limits.

Skills

Energy markets knowledge

Retail pricing

Risk and statistics

Python

SQL

Tools

Python

SQL

Job description

Base is building a next-generation power company by deploying distributed batteries to transform the grid into a resilient system. The Market Analyst will own P&L reporting and risk tracking for the battery fleet and retail operations, building PJM pricing models and driving hedging decisions in ERCOT and PJM.

You’ll work with Finance, Growth, and Legal & Policy to identify opportunities and ensure accurate margin calculations, contributing to strategic market expansion and revenue growth.