Senior Director, PJM Wholesale Load Strategy

Rev Renewables, LLC; Houston (TX); On-site; USD 180,000 - 300,000; Full time

Benefits offered by this job

Medical, Dental, Vision coverage

HRA and FSA

Life, AD&D, LTD Insurance

401(k) with employer contributions

Educational Reimbursement

Job summary

REV Renewables seeks a Director, Wholesale Load to launch and lead PJM wholesale load-serving activities. You will price, bid, and hedge default service auctions, leveraging REV’s asset base and analytics team to optimize margins and growth across markets.

You will coordinate with Legal, Risk, Credit, and Commercial Operations while building a small team, delivering end-to-end load strategies and performance analysis.

Qualifications

• 8-12+ years of wholesale power experience, ideally including pricing and/or managing full‑requirements load in PJM or another major US ISO.
• Strong understanding of the risk components, cost attribution, and PJM settlement components of a load book — load forecasting and shaping, capacity, transmission, and ancillary obligations, and REC compliance — and of default service auction mechanics (e.g., BGS, DSP, SOS).
• Working knowledge of credit and collateral mechanics for load supply, including supplier master agreement margining, exchange‑cleared hedging, and ISO credit requirements.
• Demonstrated ownership mindset, with the ability to oversee a business line while working heavily across internal teams — Trading, Analytics, Risk, Credit, Commercial Operations, and Legal — to deliver it.
• Strong analytical skills (e.g., Python, SQL, Excel), experience partnering with quantitative teams on pricing and forecasting models, and the ability to build market intelligence on auction clearing levels and margins.
• Ability to manage competing priorities in a fast‑paced, market‑driven environment, including extended hours around auctions and critical market events.
• Strategic, analytical thinker with excellent communication skills and strong commercial judgment.

Responsibilities

• Launch, build and manage REV’s new PJM wholesale load-serving business with an ownership mindset, coordinating across the Energy Management team and the broader organization.
• Lead strategy and execution for PJM default service auctions, including tranche selection, bid pricing, and participation in descending clock auctions.
• Partner with the Analytics team to build and maintain auction pricing, load forecasting (Day-Ahead and Real-Time), and shadow-clearing models ahead of live bidding.
• Manage and monitor performance attribution and risk metrics as well as market intelligence to determine forward component pricing and margin levels
• Work with Traders on hedge execution, including mean-delta block hedges, FTR/congestion coverage, and integration of the pumped storage fleet’s dispatch as the real-time hedge.
• Organize the business: market and supplier qualification (EDC programs, PJM), working with Legal on supplier master agreements, licensing, and market setup, and establishing the internal processes and controls required to bid, deliver, and settle load.
• Work with the Risk and Credit teams on load-book exposure and collateral, including EDC margining, exchange margin, and PJM credit requirements, as well as facilities, unsecured thresholds, and portfolio netting.
• Oversee load settlement, PJM settlement components and cost attribution for the load book, and forecast-versus-actual performance in partnership with Commercial Operations; own reporting and tracking of the business’s gross margin against plan, including Day‑Ahead/Real‑Time P&L attribution.
• Coordinate with the REC desk on compliance procurement and monetization of fleet RECs against load obligations.
• Ensure all load positions, load hedges, and FTRs are modeled in the ETRM with accurate position, MtM, and credit reporting; ensure full compliance with Risk Policy, EDC agreements, PJM Tariff, and FERC requirements.
• Develop and maintain market intelligence on default service auction results, competitor behavior, and clearing margins across PJM programs, informing bid strategy and potential expansion into other markets.
• Build and manage a small team of 1–2 as the business ramps; represent REV with EDCs, auction managers, and PJM.

Skills

Wholesale power experience

PJM/AIS knowledge

Pricing and load forecasting

Python/SQL/Excel

Tools

Python

SQL

Excel

Job description

REV Renewables seeks a Director, Wholesale Load to launch and lead PJM wholesale load-serving activities. You will price, bid, and hedge default service auctions, leveraging REV’s asset base and analytics team to optimize margins and growth across markets.

You will coordinate with Legal, Risk, Credit, and Commercial Operations while building a small team, delivering end-to-end load strategies and performance analysis.