Head of Energy Trading - Battery Storage

Company Overview 

Plus Power is an energy storage market leader with a market-leading 10+ GW portfolio across more than 25 US states and Canadian provinces that will transform North American electric grids into cleaner and more versatile critical infrastructure.  

Standalone energy storage is rapidly transforming the U.S. energy markets, because it is cheaper than new natural gas plants, faster to build than fossil peakers or transmission, and able to perform diverse energy services. Plus Power partners with electricity system operators, utilities, and investors to originate, develop, finance, own and operate standalone energy storage projects that provide critical services to the wholesale electric market. Plus Power’s team applies an intentional mindset to energy storage development by using a data-driven approach to development. 

At Plus Power, we are focused on solving hard climate problems, profitably.  We are growing fast, and value candidates who, like us, share a focus on setting high expectations, owning and learning from mistakes in the spirit of radical transparency, and are committed to internal partnering as a key element of our ideas meritocracy. Our team praises Plus Power’s culture and excels through our game-changing mission and supportive ecosystem. 

 

Overview 

Plus Power recruits outstanding energy trading professionals who are driven to manage the commercial operations of assets that decarbonize the U.S. energy markets and grow their own careers. Our team looks for data-driven and fact-based mindsets, engaging and collaborative behaviors, and personal growth-focused professionals.  

 

Responsibilities 

• Develops and directs the Plus Power Energy Trading function for asset optimization for all Plus Power merchant battery energy storage projects 
• Develops and implements processes for optimizing energy revenue in the Day Ahead and Real Time markets in conjunction with Plus Power’s algorithmic trading program 
• Manages Asset and established hedge trading positions to optimize risk adjusted revenues in RTO markets 
• Provides consultative review of asset hedging transactions prior to execution that considers market and credit risk implications in the decision-making process 
• Regularly reviews market positions to identify risk drivers and recommends strategies for risk mitigation and/or revenue enhancement 
• Leads reporting of daily, weekly, monthly, and ytd positions and PnL 
• Advises on improvements in modeling forward asset positions for both intrinsic and extrinsic values and greeks 
• Leads cross-functional projects relative to system implementations and enhancements, quantitative modeling, and process improvement 
• Recruits and develops energy trading personnel to create an industry-leading energy trading function at Plus Power 
• Monitors daily market exposures and position reports 
• Performs analysis, drafts memos, and presents profit and loss results to senior management following significant market events and to address risk mitigation opportunities 

 

Minimum Qualifications 

• Bachelor’s Degree in Business, Finance, Mathematics, Accounting, or related field 
• 5+ years in North American electricity and natural gas markets trading roles with progressively increasing levels of responsibility  
• Knowledge of and experience trading DA-RT markets in ERCOT, ISO-NE, PJM, and other RTOs 
• Excellent quantitative and analytical skills 
• Excellent communication, writing, and presentation skills - with the ability to interface effectively with all levels of management 
• Work experience in a supervisory role 
• Ability to identify continuous improvement opportunities and takes initiative to drive solutions; works effectively without direct supervision in a fast paced and multitasking environment 

 

Desired Qualifications 

• Master's Degree in a quantitative field or MBA 
• Applicable Finance Certification (CFA, FRM, PRM) 
• 7+ years of experience in trading in the North American natural gas and/or electric industry 
• Demonstrated ability to manage multiple projects and create capacity 
• Ability to anticipate unique business decisions and situations and respond accordingly 
• Experience leading and delivering projects under tight deadlines 

 

Compensation, Location, and Benefits

Highly-competitive remuneration from one of the nation’s most exciting leaders in the energy storage markets. Flexible, work from home locations acceptable for the long-term, or hybrid work from Plus Power’s offices in San Francisco or Houston.  

The expected salary range* for this position begin