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Senior Commercial Market Analyst GB, Swindon 28 views

Senior Commercial Market Analyst (region Europe and Asia-Pacific)

Swindon, UK

Role description

The role of the Market Analyst covers the detailed analysis of all renewable technologies and several commodities (power, fuels, CO2, green certificates) in all core and future markets of RWE Renewables in Europe and the Asia Pacific (APAC) region. The main focus of this role is on the UK market and Ireland. Furthermore, the role comprises the identifying, analysing and quantifying of new revenue streams coming from the pairing of intermittent renewables with storage/battery solutions, access to ancillary services or generation of portfolio effects. In addition to that, challenges regarding electricity grid constraints and the resulting congestion and curtailment analysis will be of growing importance. The analysis of UK specific use of system charges will also be part of this role. The position requires a high affinity for numerical work, handling of large amount of data and can therefore also include programming tasks. You will be part of a highly dynamic, international and geographically diverse team which comes along with occasional international travel, working remotely and demonstrating a pro-active and autonomous approach to work.

Principal Accountabilities

  • Collect, prepare and analyse all relevant data needed as input for business models with special focus on power prices, imbalance costs, market values / captured prices, curtailments and ancillary services as well as subsidy schemes.
  • Understanding the changes in the regulatory framework and energy market designs in GB and Ireland and quantifying the effects of those changes on revenues and Use of System charges (TNUoS, BSUoS ,GDUoS) with superior modelling and quantitative skills.
  • Supporting bidding strategies in various auctions (i.e. Offshore wind leasing auction, CfD auctions etc.).
  • Close cooperation with the Commercial Optimisation team to assess intraday trading strategies based on short term forecasts changes.
  • Supporting Commodity Managers by monitoring & reporting forecasting errors for different tenors and imbalance costs on asset & portfolio basis.
  • Having a working relationship with forecasting providers & performance team, ensuring to have access to the best in class short term production forecasts through continual evaluation (via forecasting trials).
  • Assess opportunities for “smart renewable energies” including intelligent steering and reacting on price signals.
  • Evaluate opportunities of hybrid assets, such as pairing renewables with storage solutions with special focus on battery storage.
  • Analyse portfolio benefits across all RES technologies and countries to assess possible synergies within the RWE portfolio.
  • Support Strategy and Regulation team to reflect current and future market and regulatory scenarios which are used to value commercials of assets.
  • Support in defining optimal hedging strategies and assisting the team in doing adequate risk analysis (e.g. value at risk, conditional value at risk, other risk measures).
  • Working closely together with other segments (e.g. Strategy, Generation) to define future Hydrogen strategies.
  • Ad hoc market analysis reports (in case of market disruptions like the current Coronavirus crisis).
  • Knowledge and Skills:

    Essential:

  • PhD / Master´s degree in an analytical / numerical subject, preferably Engineering, Economics, Statistics or Mathematics and appropriate professional experience with at least five years of working experience or comparable university career in relevant market analysis areas.
  • Affinity with all sorts of renewable energies and knowledge of European / Asian power markets.
  • Previous experience working in a commercial function within an energy commodity environment, preferably with exposure to renewable energy sources in European or Asian power markets.
  • Substantial experience regarding the economics of renewable energies (e.g. imbalance modelling, value factor development and revenues from support mechanisms).
  • Very strong Excel skills i.e. should be able to use functionalities at an expert level, including working with macros and VBA functions, integrating Excel with external data sources.
  • Experience in programming and/or optimization languages, e.g. Matlab, R, Python or GAMS, database management (i.e. Access) and capability to develop, document and maintain models.
  • Familiar with Monte Carlo simulation approach. Good knowledge of typical derivative instruments used in energy markets to hedge financial positions.
  • The ability to communicate clearly and in a customer-oriented way, specifically the ability to structure and present complex information adequately to a (senior) management-level audience (both written and verbal).
  • Strong interpersonal and presentational skills (expert user of PowerPoint) plus ability to deal with uncertainty linked to cross-cultural projects. Ability to work in different time zones
  • Fluent English language skills. Very good knowledge of Asian, Scandinavian or at least one other language of our core markets is of advantage. Very good German is desirable.
  • Highly proactive, identifying value opportunities and proposing solutions to them under own initiative.
  • Team player and highly motivated.
  • Enthusiastic about learning and pushing technical limits and finding new solutions / out of the box thinking.
  • Desirable:

  • Experience in ancillary services and balancing market regulation in Europe and APAC region.
  • Demonstrable experience in fundamental market modelling and analysis in Europe or APAC region.
  • Experience modelling lease/support auctions and real option analysis for renewable investments.
  • Experience in programming optimisation problems.
  • Knowledge of financial engineering, option valuation methodologies, spot price processes (trinomial trees, or Monte Carlo simulation), and forward curve structure in commodities markets.
  • Experience in valuation of commercial revenue streams for storage technologies, with a focus on grid connected batteries.
  • Good knowledge of typical derivative instruments used in energy markets to hedge financial positions.
  • Experience in managing stakeholders in process implementation through internal or external consultancy.
  • Project Management skills.
  • Closing date on this role is 14th Sep 2020 , Please apply online and contact Lisa Phillips if you have any queries or questions lisa.phillips@innogy.com

    This publication is published for RWE Renewables GmbH. All applications will be processed by selected employees of Innogy SE being future employees of RWE Renewables GmbH

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