Senior Analyst, Structured Trading

AES Corporation; Houston (TX); On-site; USD 120,000 - 180,000; Full time

Job summary

AES Clean Energy Services, LLC seeks a Senior Analyst, Structured Trading to analyze ERCOT markets, design and develop stack models, and develop trading strategies to achieve defined PnL targets.

You will support term trading strategies, build natural gas models, and evaluate ISOs across the U.S. while collaborating with trading, regulation, and fundamentals teams.

Qualifications

• Bachelor’s degree in a quantitative field and 5 years of energy industry experience.
• Experience with power markets, renewable asset revenue streams, and asset operations.
• Experience supporting power trading, optimization, and asset management.

Responsibilities

• Analyze ERCOT real-time and cash markets for weather and price risk and trading opportunities.
• Design and develop stack models to simulate generator dispatch and merit order in ERCOT.
• Develop and execute trading strategies in ERCOT to meet PnL targets.
• Support term trading strategies to manage asset energy exposure in ERCOT.
• Build and maintain natural gas models to identify correlations with power markets.
• Evaluate capacity and resource adequacy markets across U.S. ISOs with trading and risk teams.
• Develop risk models including VaR and benchmark risk valuations.

Skills

Power markets

Quantitative analysis

Risk modeling

Trading desk setup

ERCOT markets

MISO knowledge

Education

Bachelor’s degree in Engineering, Economics, Finance or related quantitative field

Tools

ETRM systems

Risk modeling tools

Job description

About the company

Are you ready to be part of a company that’s not just talking about the future, but actively shaping it? Join The AES Corporation, the largest US-based global power company with a team of 8,300 employees across 12 countries. AES has been ranked #1 by BloombergNEF in renewable energy sales to corporations in the US and Americas for five consecutive years, providing electricity for millions of people worldwide. We are proud to foster a strong workplace culture, earning prominent positions in Great Place to Work™ rankings across the markets where we operate. AES was also named one of the World's Most Ethical Companies for the 13th consecutive year in 2026, highlighting our dedication to integrity, transparency, and responsible business practices. Our spirit of innovation continues to earn industry recognition. AES is the only seven-time winner of the Edison Electric Institute’s Edison Awards in the twenty-first century, a distinction honoring global leadership in advancing the electric power industry. If you're ready to be part of a company that’s not just adapting to change, but driving it, AES is the place for you. We’re not just building a more sustainable future, we’re powering it.

Title

Senior Analyst, Structured Trading

Employer

AES Clean Energy Services, LLC

Location

1201 Fannin Street, Suite 500, Houston, TX 77002

Duties

• Analyze ERCOT [Electric Reliability Council of Texas] real time and cash markets for weather risk, price risk, trading opportunities.
• Design and develop stack models to simulate generator dispatch behavior and merit order in ERCOT.
• Develop and execute trading strategies in ERCOT to achieve defined PnL [Profit and Loss] targets.
• Support term trading strategies to manage asset energy exposure in ERCOT.
• Build and maintain fundamental natural gas models to identify correlations and impacts on power markets.
• Evaluate capacity and resource adequacy markets across U.S. ISOs [Independent System Operators], working closely with trading, regulatory, and fundamentals teams.
• Analyze basis and congestion markets and design risk-mitigating strategies to manage portfolio exposure.
• Develop and execute strategies to participate in Congestion Revenue Rights (CRR) auctions for both hedging and proprietary trading purposes.
• Register AES legal entities to be market participants in de-regulated power and congestion markets.
• Monitor and manage collateral exposure for trading activity.
• Develop commercial risk modeling including historic and parametric Value at Risk (VaR) models to benchmark risk valuations.
• Mark forward curves for valuation of energy, basis, and capacity positions.
• Work with Pricing to value merchant exposures on M&A [Mergers and Acquisitions] and development assets in ERCOT and MISO [Midcontinent Independent System Operator] territories.
• Deliver model improvements and automation to shorten turnaround times necessary to meet aggressive business growth targets.
• Contributes towards contract negotiation for complex deal structures.
• Work with ETRM [Energy Trading and Risk Management] team to ensure adequate booking and representation of signed contracts.
• Work with Risk Management team to follow internal processes and guidelines for model validation and risk quantification.
• Develop an understanding of commercial impacts affecting AES CE business, grow their own skills and progress along the career path.
• Own analyses and recommendations used in trading, hedging, and investment decisions, including during periods of market stress.
• Train and develop junior members of the team.

Requirements

• Bachelor’s degree or foreign equivalent degree in Engineering, Economics, Finance or related quantitative field and 5 years of experience with commercial analysis for the energy industry.
• Experience must include:
• 5 years of experience with power markets
• 1 year of experience with revenue streams associated with renewable assets
• 1 year of experience with operating aspects of power assets
• 3 years of experience supporting power trading, optimization, and/or asset management
• 5 years of experience using quantitative and analytical skills with market and risk modeling
• Experience setting up a power trading desk across trading, risk, operations and credit.
• Demonstrated knowledge of renewable asset revenue streams and operational drivers; and analytical tools and trading systems.
• Knowledge may be demonstrated through education, training and/or experience.

Equal Opportunity Employer Statement

AES is an Equal Opportunity Employer who is committed to building strength and delivering long-term sustainability through diversity and inclusion.

Respecting all backgrounds, differences and perspectives enables us to improve the lives of our people, customers, suppliers, contractors, and the communities in which we live and work.

All qualified applicants will receive consideration for employment without regard to sex, sexual orientation, gender, gender identity and/or expression, race, national origin, ethnicity, age, religion, marital status, physical or mental disability, pregnancy, childbirth, or related medical condition, military or veteran status, or any other characteristic protected under applicable law.

E-Verify Notice: AES will provide the Social Security Administration (SSA) and if necessary, the Department of Homeland Security (DHS) with information from each new employee's I-9 to confirm work authorization.

Company Culture

Accelerating the future of energy, together Our people are our energy and have transformed AES into the type of energy company that the world needs today and in the future. Coming from all walks of life, our people share a passion for improving lives by advancing the energy sector through innovation, collaboration and action. We are working in an industry that requires new thinking and ways of working together to create solutions that are both economically and environmentally viable, not just one or the other. We are looking for passionate people to join us in our mission to accelerate the future of energy.