Vp Rates & Energy Procurement

Southern Maryland Electric Cooperative/ SMECO; Hughesville (MD); On-site; USD 150,000 - 250,000; Full time

Job summary

Southern Maryland Electric Cooperative (SMECO) is seeking a senior leader to manage hedge planning, risk controls, and power supply budgeting. The role interacts with ACES, NRCO, and SMECO governance to optimize energy portfolio performance.

The position requires extensive wholesale energy market experience, regulatory engagement and expertise in rate design, forecasting, and financial analysis. This is a full-time, on-site role based in Hughesville, MD.

Qualifications

• Eight years of progressive experience in electric utility operations, control or accounting.
• Experience with wholesale energy markets and risk management.
• ISO/RTO experience and knowledge of accounting procedures.
• Bachelor's degree in engineering, accounting or business; MBA preferred.

Responsibilities

• Initiates annual hedge plan and congestion strategy with ACES; ensures hedge execution aligns with plan.
• Develops SMECO's annual power supply budget and shares updates with committees and board.
• Directs risk, credit management for energy procurement and reports to senior management.
• Oversees SMECO’s participation in PSC, FERC, PJM and related regulatory activities.
• Directs rate design studies, filings and regulatory proceedings.
• Oversees long-term load forecasts and budget projections; manages PPCA and BSA models.
• Manages SMECO's load research to support rate design, forecasting and energy efficiency.
• Performs additional economic and quantitative analyses and budget preparation.

Skills

Power markets

Risk management

Financial analysis

Stakeholder communication

Education

Bachelors in eng/acct/bus

MBA or cert (EIT/PE/CPA)

Job description

Job Description

**Position may be filled as a Managing Director**

Responsibilities

• 1. Initiates, with ACES, an annual hedge plan and execution strategy, including a congestion mitigation strategy using FTRs and/or OTC power swaps. Monitors power supply and congestion strategies to ensure that hedges are executed in compliance with the annual plan, or if exceptions are warranted, that proper approvals are in place, and that steps are taken to mitigate the congestion risk. Plans, reviews and analyzes potential renewable energy projects (e.g. solar installations) with ACES and the National Renewable Cooperative Organization (NRCO) and independent developers for portfolio fit and cost effectiveness. Documents, processes exceptions and communicates any deviation from the hedge plan and/or congestion strategy to SMECO executive management and Board Risk Oversight Committee. VALUE: 15%
• 2. Develops, in conjunction with ACES, SMECO's annual power supply budget. Provides regular updates, including formal presentations, to the Power Supply Committee and BROC on SMECO's portfolio position including the latest changes/additions to supply, average costs compared to budget and percent of portfolio hedged. Ensures compliance with Board policies related to power supply, including updating, as necessary the authority matrices to allow for alignment with current market pricing and activity. Directs analysis of current and proposed power supply transactions, including forwards, structured products, options, gas hedging, etc., for effect on the overall energy portfolio and reports the results and recommendations to SMECO's Board and Executive staff. Serves as SMECO representative on the Association of Large Distribution Cooperatives' Power Supply Working Group. VALUE: 15%
• 3. Directs the division's risk and credit management activities for energy procurement and the evaluation of potential power supply transactions regarding risk compliance, tax, and potential FAS 133 issues. Oversees reporting of portfolio activities to senior management and Board. VALUE: 10%
• 4. Oversees the division's participation in PSC, FERC, PJM, and utility meetings, committees, and groups representing SMECO. Directs division activities to develop rate and regulatory policy and the division's participation in SMECO internal activities regarding regulatory matters, wholesale power supply, PJM, and rates. Oversees regular monitoring of other utility rates and practices for competitive evaluation. VALUE: 15%
• 5. Directs the design, preparation and implementation of retail rates for electric service through the development of rate studies, the preparation of rate filings, and participation in regulatory proceedings to implement those rates. Directs the preparation of required, periodic regulatory filings including the annual PPCA audit, the annual EmPower MD surcharge and Demand Response surcharge factor filings, and Standard Offer Service charge adjustment filings. Also directs the division's participation in regulatory proceedings on these matters including testimony. Manages the division's interaction with Curtailment Service Providers for providing customer load and peak demand as required. VALUE: 15%
• 6. Directs the preparation of annual embedded cost of service studies for class revenue requirements and marginal cost of service studies to support proposed rate design proposals. Directs the preparation of SMECO's long-term load forecasts. Directs the preparation of SMECO's ten-year forecast to the Public Service Commission. Directs the preparation of SMECO's budget revenue projections and budget power supply cost projections for SMECO's annual budgeting function. Directs SMECO's short-term load forecasting for SMECO's daily power supply portfolio management. Manages the daily and monthly system load settlement operations for retail choice requirements in PJM. Manages the division's work on developing monthly PPCA factors and running SMECO's PPCA model. Manages the division's work on developing monthly BSA factors and running SMECO's BSA model. VALUE: 15%
• 7. Manages SMECO's load research operation to produce on-going class load data to support cost of service studies, rate design, demand and energy forecasting, demand response and energy efficiency impacts, and other uses. Manages the design, implementation, and collection of data from samples of SMECO's residential and commercial customers, and the review, analysis, summary, and reporting of load data results. VALUE: 10%
• 8. Conducts other economic and quantitative analysis, as needed. Prepares the division's budget for incorporating into the department's budget. Performs other duties as assigned and completes training necessary to maintain or enhance job performance. VALUE: 5%

Education

Four-year college degree in engineering, accounting or business discipline and a complimentary, diverse advanced degree such as an MBA. Professional certification is preferred (e.g. EIT, PE or CPA).

Experience

Minimum eight years progressive experience in the operation, control or accounting of electric utility systems. Experience with wholesale energy markets required, including, but not limited to, risk management, ISO/RTO experience with knowledge of accounting procedures and relative computer applications.

Salary

Salary Range - $150,000 - 250,000

Location

HUGHESVILLE, MD 20637

Job Type

FULL TIME/EMPLOYEE

Notice of Equal Opportunity Employment

We expect employees to be honest, trustworthy, and operate with integrity. Discrimination and all unlawful harassment (including sexual harassment) in employment is not tolerated. We encourage success based on our individual merits and abilities without regard to race, color, religion, national origin, gender, sexual orientation, gender identity, age, disability, marital status, citizenship status, military status, protected veteran status or employment status. We support and obey laws that prohibit discrimination everywhere we do business. We fully consider all qualified applicants including those with a criminal history.