Senior Settlements Analyst

Calpine; San Diego (CA); On-site; USD 70,304 - 99,062; Full time

Job summary

Calpine is seeking a candidate to monitor ISO/RTO market settlements and develop financial models. This role requires collaboration with various teams to ensure accuracy in financial reporting.

Candidates should possess a Master’s or Bachelor’s degree in a relevant field, along with experience in the energy industry. Effective communication and strong analytical skills are essential for success in this position.

Qualifications

• 2-3 years of relevant work experience in the energy industry (Master's).
• 4-5 years of relevant work experience in the energy industry (Bachelor's).
• Basic understanding of ISO Settlements.

Responsibilities

• Monitor ISO/RTO market settlements for assigned market(s).
• Resolve invoice reconciliation discrepancies with external counterparties.
• Prepare and analyze financial reports.

Skills

Effective communication skills

Strong analytical skills

Problem solving

Excel

VBA

Education

Master’s degree in Math, Business, Engineering, Finance or Accounting

Bachelor’s degree in Math, Business, Engineering, Finance or Accounting

Job description

Calpine, a business unit of Constellation Energy Corporation (Nasdaq: CEG), is America's largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. With 79 energy facilities in operation, Calpine’s fleet has the capacity to generate approximately 27,000 MW of electricity – enough to power approximately 27 million homes. Through wholesale power operations and its retail businesses, Calpine serves customers in 22 states and Canada. Its clean, efficient, modern and flexible fleet uses advanced technologies to generate power in a low‑carbon and environmentally responsible manner.

The company was established on the premise that a strong commitment to the environment is inextricably linked to excellence in power generation and corporate responsibility. Since its founding in 1984, Calpine has led the power industry in its unwavering commitment to environmental stewardship. In addition, its renewable geothermal plants use steam generated deep below the earth's surface to produce clean, renewable electricity.

Job Summary

This position will be responsible for monitoring ISO/RTO market settlements for the assigned market(s) and will partner with leadership to develop and maintain financial models that provide financial visibility across our portfolio. It will report directly to the Manager of Market Settlements.

Job Responsibilities

Market Settlements:

• Shadow settle ISO/RTO invoices and identify any non‑routine charges or unique agreements and develop processes for systematic reconciliation.
• Monitor and understand costs associated with positions within the market(s) and ensure internal processes properly account for those costs (Pricing, Risk, Billing, Accounting).
• Resolve invoice reconciliation discrepancies with external counterparties and internal scheduling and trading teams; ensure accuracy of activities recorded in the trading system.
• Understand settlement rules, timelines and supporting files, validate and reconcile the ISO/RTO market settlement statement, invoices and settlement detail to ensure that new and revised charges are configured in accordance with published Business Practice Manuals and Tariffs.
• Quarterly filing of FERC EQR.
• Participate in ISO/Regulatory calls as necessary to monitor and understand market changes.
• Act as a change agent to identify and implement process improvements to promote best practices for their market.
• Provide timely and accurate information to both external and internal customers.
• Meet timelines for various deliverables while maintaining excellent quality of work product.
• Assist the organization’s accounting and operations teams in the development of corporate financial requirements and with month‑end close and forecasting process.
• Collaborate with Accounting, Risk, Billing and Structuring teams to automate and support business intelligence reporting.
• Prepare and analyze reports in areas such as forecasts, statistical reports, cash flow projections, and other financial reporting.
• Provide support to accounting team during monthly close cycles as needed.
• Work and communicate with various internal groups to compile and analyze data, including Contract Administration, Front and Middle Offices, Accounting, Financial Reporting, Treasury, Credit, Information Technology (IT) and Legal.

Capacity/Transmission Obligation Modeling, Load Shaping and Line Losses:

• Review utility/ISO tariffs and document specific rules relating to the adjustment of metered load prior to settlement, including but not limited to PLC/NSPL models, load profiles, loss factors and unaccounted for energy.
• Set up and maintain updated load profile and loss factor data in all the pricing and billing databases.

Job Requirements

• Master’s degree in Math, Business, Engineering, Finance or Accounting, plus 2‑3 years of relevant work experience, energy industry preferred (or)
• Bachelor’s degree in Math, Business, Engineering, Finance or Accounting, plus 4‑5 years of relevant work experience, energy industry preferred.
• Effective communication skills both written and oral.
• Strong analytical, critical thinking, problem solving and statistical skills.
• Excellent computer skills with an emphasis on Excel, Word and VBA.
• Basic understanding of ISO Settlements, tools, applications, etc.

Salary Range

$70,304 - $99,062

Additional Calpine Information

• Equal Opportunity Employer of Minorities, Females, Protected Veterans, and Individuals with Disabilities.
• Calpine is committed to Equal Employment Opportunity and providing reasonable accommodations to applicants with physical and/or mental disabilities. If you are interested in applying for employment and need special assistance or an accommodation to use our website or to apply for a position, please send an e‑mail with your request to [e-mail]. Determination on requests for reasonable accommodation are made on a case‑by‑case basis.

Please view Equal Employment Opportunity Posters provided by OFCCP here.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.