Energy Markets Optimization Leader | ERCOT Trading

Iris Energy; Fort Worth (TX); On-site; USD 120,000 - 190,000; Full time

Benefits offered by this job

Health insurance

401(k) retirement plan

Relocation assistance

Paid time off

Job summary

Iris Energy invites you to join our team as an Energy Markets Optimization Specialist/Manager to drive ERCOT day-ahead and real-time trading, optimization, and hedging across a growing data center portfolio. You will monitor market fundamentals, develop trading views, and coordinate with QSEs and counterparties to maximize portfolio value.

The role requires deep knowledge of wholesale power markets, PPA and derivative structures, and disciplined risk management, with the ability to work across

Qualifications

• Bachelor's degree in Finance, Economics, Engineering, Mathematics, Statistics, Energy Management or a related quantitative field; advanced degree preferred.
• Minimum five (8) years of experience in wholesale power markets, energy trading, asset optimization, scheduling, risk management or energy portfolio management.
• Hands-on ERCOT experience strongly preferred, including day-ahead and real-time markets, nodal pricing, congestion, CRRs, ancillary services, settlements and QSE operations.
• Strong quantitative skills, including pricing models, valuation methods and risk metrics, with the ability to interpret market data, build trading views, assess price risk and translate analysis into clear commercial actions.
• Experience with hedging instruments — PPAs, swaps, futures, options and structured products — bilateral transactions, ISO settlements, mark-to-market reporting, P&L attribution and risk-limit governance.
• Advanced Excel skills required; experience with Python, SQL, VBA, ETRM systems, ISO portals, market data platforms or visualization tools is an advantage.
• Commercially disciplined, detail-oriented and comfortable making time-sensitive decisions in volatile market conditions while operating within approved risk limits.
• Strong communication skills with the ability to explain complex market drivers, trading positions and risk exposures to technical and non-technical stakeholders.
• Willingness to support market operations outside standard business hours as required by portfolio needs and market conditions.

Responsibilities

• Execute energy trading and optimization strategies across IREN's operating portfolio, with initial focus on ERCOT day-ahead and real-time markets.
• Execute transactions across the portfolio, including PPAs, swaps, futures, options and structured products.
• Monitor market fundamentals, load forecasts, weather, generation outages, transmission constraints, congestion, fuel prices and ISO market conditions to inform trading decisions.
• Application of fundamental analysis to time transactions off market intelligence and fundamental views.
• Execute hedges and support hedge structuring and monetization strategies for wholesale power exposure to optimize portfolio value, including trade recommendations, position tracking, risk-limit compliance, daily valuation of open positions and mark-to-market reporting.
• Manage FTR/CRR, basis, congestion, ancillary services and demand response positions to hedge basis risk across nodal price differences, reduce delivered energy cost and capture incremental revenue.
• Support origination, structuring and valuation of new PPAs as the portfolio grows.
• Coordinate with QSEs, retail electric providers, schedulers and counterparties to support nominations, bidding, settlements, imbalance management and operational execution.
• Maintain counterparty, broker and exchange relationships to support efficient execution.
• Partner with Operations and Site Development on real-time load management, dispatch decisions, curtailment economics, interconnection analysis and nodal price exposure.
• Maintain accurate trade capture, position reporting, P&L analysis, settlement review and documentation in line with internal controls and risk policies.
• Prepare market updates and commercial recommendations for the Head of Energy, Finance, Operations and senior leadership.
• Stay current on ERCOT and other ISO market rules, PUCT developments, NERC/FERC requirements and market-design changes that may impact IREN's operating cost, flexibility value or trading strategy.

Skills

ERCOT market knowledge

Power markets experience

Trading or risk management

Quantitative analysis

Python

SQL

Excel

Communication skills

Decisive risk decisions

Education

Bachelor's degree in Finance/Economics/Engineering

Tools

ETRM systems

ISO portals

Market data platforms

VBA

Pandas/Python tools

Job description

Iris Energy invites you to join our team as an Energy Markets Optimization Specialist/Manager to drive ERCOT day-ahead and real-time trading, optimization, and hedging across a growing data center portfolio. You will monitor market fundamentals, develop trading views, and coordinate with QSEs and counterparties to maximize portfolio value.

The role requires deep knowledge of wholesale power markets, PPA and derivative structures, and disciplined risk management, with the ability to work across