Associate, CRR & FTR Trading, Market Optimization & Trading

Clearway Energy • San Diego, CA

4d • Hybrid

About The Position

Reporting to the Senior Manager, Market Optimization & Trading, the Associate, CRR & FTR Trading supports the development, execution, and optimization of Clearway’s congestion management strategies through participation in ERCOT and CAISO Congestion Revenue Rights (CRR) and Day-Ahead markets and the PJM Financial Transmission Right (FTR) market. The role analyzes and monetizes congestion opportunities and supports management of nodal risk and basis exposure across the generation portfolio, as well as hedging and risk management analysis elsewhere in the portfolio. It calls for strong analytical, modeling, and risk management skills and a developing trading skill set to inform commercial decisions and optimize a growing renewables platform.

The Associate helps develop and execute CRR, FTR, and congestion trading strategies; analyzes historical and forecast congestion; manages portfolio exposures and tracks financial performance; and supports real-time and day-ahead trading teams with congestion insights and locational pricing forecasts. The role uses power-flow and production-cost modeling, programming, and analytics tools to forecast congestion, model market conditions, and support scenario back-testing. It also monitors market fundamentals and developments that affect congestion, supports portfolio risk metrics and hedge strategies, and helps ensure trading activity follows corporate and project-level policies and market rules.

The position collaborates with Market Fundamentals, Asset Management, Origination, Development, Risk, Accounting, and Settlements teams. It provides analytical support for hedging, project siting and contracting, due diligence, new developments, and repower evaluations. The role is hybrid, as indicated by the job’s #LI-Hybrid designation and the description of office-based work arrangements. The position is eligible for an annual cash bonus based on personal and company performance goals. No visa or employment-authorization sponsorship is available now or in the future.

Requirements

• Bachelor’s degree in Engineering, Economics, Finance, or a related field.
• 2–5 years of relevant experience, including at least 2 years directly in power markets.
• Exposure to ERCOT and CAISO CRR auction tools and to Dayzer, UPLAN, or similar transmission models.
• Prior experience in energy trading, asset optimization, or market analytics.
• Ability to build or contribute to power fundamental models for pricing, load, generation, flow, and outages using various methodologies.
• Working knowledge of ERCOT, CAISO, and PJM market design, CRR/FTR auction processes, transmission planning, and nodal pricing.
• Strong quantitative, analytical, and problem-solving abilities.
• Clear communication skills, including the ability to translate technical results into commercial insights.
• Proficiency with Excel, PowerPoint, and Power BI.
• Familiarity with congestion and risk management strategies for renewable and storage assets.
• Working knowledge of predictive modeling using mathematical and statistical methods to identify, analyze, and mitigate energy market risks, with foundational understanding of option valuation and Greeks.

Nice To Haves

• Advanced degree preferred.
• Proficiency in Python, R, or SQL preferred.
• Exposure to quantitative libraries, stochastic calculus, or option models for deal valuation.
• Familiarity with battery, wind, or solar congestion profiles.
• Dayzer experience is a plus.

Responsibilities

• Support the development and execution of CRR, FTR, and congestion trading strategies to hedge and optimize portfolio congestion risk across ERCOT, CAISO, and PJM.
• Analyze historical and forecasted congestion patterns to identify opportunities in monthly and annual CRR auctions.
• Help manage portfolio exposure to nodal price risk through CRR/FTR acquisitions, sales, and virtual positions, under senior team members’ guidance.
• Support the Real-Time and Day-Ahead MOT team with congestion insights and locational pricing forecasts.
• Collaborate with Market Fundamentals, Asset Management, and Origination to align CRR strategies with commercial hedging and offtake structures.
• Monitor and report project-level financial performance related to congestion costs, basis exposure, and hedge efficiency.
• Maintain dashboards and reporting tools to track CRR positions, portfolio exposure, and P&L attribution.
• Use power-flow and production-cost modeling software to help forecast congestion and simulate transmission constraints.
• Coordinate with Fundamentals and Analytics teams to model nodal prices, transmission outages, and topology changes.
• Use programming and analytics tools to automate congestion analysis and support scenario back-testing.
• Research regulatory filings, transmission plans, and outage schedules to anticipate market shifts.
• Analyze ERCOT, PJM, and CAISO transmission topology, load growth, and renewable generation trends.
• Monitor weather, outages, and project interconnection developments that affect congestion patterns.
• Communicate congestion forecasts and market insights to internal stakeholders, including trading desks and, with guidance, senior management.
• Support the development of portfolio risk limits and maintain portfolio-level risk metrics that account for cross-market correlations in energy, congestion, and REC prices.
• Review forward-market price volatility curves and correlation assumptions used in stochastic risk modeling.
• Assist with trading-strategy performance benchmarking and establishment of risk limits.
• Apply portfolio optimization techniques to inform hedge decisions while balancing risk-adjusted revenue from renewable assets.
• Perform daily and weekly portfolio assessments to identify profit opportunities and risks.
• Help ensure CRR/FTR trading complies with corporate and project-level risk policies, market rules, and market protocols.
• Work with Risk, Accounting, and Settlements to reconcile positions, P&L, and collateral management.
• Maintain compliance documentation and participate in periodic audits.
• Partner with Market Fundamentals, Origination, Development, and Asset Management to provide congestion analysis for project siting and contracting decisions.
• Provide market intelligence and analytical support for M&A due diligence, new developments, and repower evaluations.

Benefits

• Annual cash bonus subject to personal and company performance goals.
• Generous paid time off.
• Medical, dental, and vision care.
• Health savings accounts with company contributions.
• Health and dependent-care flexible spending accounts.
• Commuter benefits.
• Relocation assistance.
• 401(k) plan with employer match.
• Life and accident insurance.
• Fertility programs.
• Adoption assistance.
• Parental leave.
• Tuition reimbursement.
• Benefits for employees in same-sex marriages, civil unions, and domestic partnerships.
• Company-provided meals and events for office-based employees.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level