Nodal Trader

Active Power Investments; United States; On-site; USD 120,000 - 210,000; Full time

Job summary

Active Power Investments LLC is a market participant in North American wholesale power markets, engaging in virtual transactions, FTRs/CRRs auctions, and related energy trading in futures and derivatives. The team develops strategies across ISO markets such as CAISO, ERCOT, MISO, NYISO, PJM, and SPP, and trades on ICE and CME.

You will join a fast-paced energy trading environment, focusing on improving trading performance, advancing virtual supply/demand trading, and building risk-aware,

Qualifications

• Experience with nodal markets and/or futures markets.
• Understanding of ISO transmission systems.
• Ability to work independently and in a team under tight deadlines.
• Experience developing or evaluating price forecasts for natural gas and electricity.

Responsibilities

• Improve performance of the PTB and daily spread trading program in profitability and volume within risk metrics.
• Advance virtual trading of supply (INCs) and demand (DECs) based on fundamentals.
• Construct profitable FTR/CRR portfolios monthly and longer term.
• Develop power-flow simulator-based analysis programs for trading PTPs, VTs, and FTRs/CRRs.
• Complement nodal trading with trading natural gas and electricity futures and derivatives.
• Ensure trading respects risk limits and improve risk metrics for nodal/futures trading.
• Assess and report on effectiveness of risk measurement procedures.
• Independently run a profitable trading book net of seat costs.

Skills

Nodal markets experience

Futures markets

ISO transmission systems

Power system knowledge

Quantitative analysis

Excellent written and verbal skills

Education

Advanced degree in quantitative field

Tools

PowerWorld

VBA

C#

Matlab

Mathematica

SQL

Python

R

Job description

About Active Power Investments

Active Power Investments LLC is a market participant in the North American wholesale power markets. We engage in virtual transactions (VTs), participate in Financial Transmission Rights (FTRs) / Congestion Revenue Rights (CRRs) auctions, and engage in related energy trading in electric power and natural gas futures and exchange-traded derivatives. We offer exposure to these unique investment opportunities, which provide an exceptional combination of returns and portfolio diversification.

Our team develops and executes strategies across:

• Independent System Operator (ISO) markets, such as CAISO, ERCOT, MISO, NYISO, PJM, and SPP.
• Exchanges, such as ICE and CME, which offer related energy and commodities products.

About you

You are motivated by the opportunity for professional growth in a multi-disciplinary and fast-paced environment. You are excited about the challenges of a cutting-edge energy and commodities trading business. You find satisfaction working for an energy trading company intensely focused on searching for and finding opportunities in a variety of energy and commodities markets. You rise to the challenge of executing complex tasks necessitated by constantly changing market conditions. You have the tenacity to follow a set of complex controls that ensure smooth trade execution and proper risk management.

• Improve the performance of the current Point-to-Point Obligation Bid (PTP) and daily spread trading program in terms of both profitability and volume, while complying with the Company’s risk metrics.

• Advance the virtual trading of supply (INCs) and demand (DECs) based on fundamentals such as weather patterns, load, unit outages, and transmission outages.
• Construct profitable FTR/CRR portfolios, both monthly and longer term.
• Develop power-flow simulator-based analysis programs for trading PTPs, VTs, and FTRs/CRRs.
• Complement the nodal trading with trading natural gas and electric power futures and other exchange-traded derivatives on commodity exchanges.
• Make sure that any such trading respects risk limits.
• Assist with improving the current risk metrics to be as accurate as possible in capturing risks inherent in nodal and futures / options trading.
• Assess and report on the effectiveness of our current risk measurement and management procedures.
• You are expected to be able to independently run a profitable trading book, net of all the relevant expenses (aka seat costs).

Preferred Qualifications

• Ability to work as part of a team as well as independently with multiple projects under tight deadlines.
• Excellent written and verbal communication skills.
• Direct experience with the nodal markets and/or futures markets.
• Understanding of the ISO transmission systems.
• Knowledge of the ISO supply stacks.
• Experience with power flow simulation in PowerWorld or a similar tool.
• Experience with the analysis of supply and demand in the ISO and futures markets.
• Experience with producing or ability to utilize short-term and long-term price forecasts of natural gas and electricity prices at various settlement points for profitable trading.

Nice-to-haves

• Programming experience in either of VBA, C#, Matlab, Mathematica, SQL, R, Python.
• An advanced degree in Electrical Engineering, Statistics, Financial Engineering, Finance, Mathematical and Computational Finance, Economics, or other similar quantitative discipline.

• Total compensation for this seat combines a base salary with a profit-sharing component tied to book performance and is structured to scale with experience and track record.