Market Strategist, North America Power

bp•New York, NY

1d•Hybrid

About The Position

The Market Strategist role resides in the Gas and Power Strategist team, which is part of the larger analytic function. A core element of this discipline is to identify changes in supply and demand fundamentals within different regions of the market and communicate the likely impact on price action to the trading and origination teams. This key role will work alongside the bench to provide such analysis in service of creating models, foundational views, and trading strategies in line with changing market dynamics. Analysis performed by the individual and team will have a direct linkage to commercial value creation and assist in keeping traders, originators, and management informed of underlying fundamental views that affect the markets. In addition to the above, this role will involve the creation of market and fundamental views that drive the valuation of long-term deals in the markets covered. These views will require the development and maintenance of models, data, and assumptions to provide a quantitative and fundamental framework for valuation in the long-term space, as well as a deep understanding of the short-term view. The role will involve communicating these views externally to customers and counterparties, as well as internally to originators, structurers, traders, and other strategists. The role will also involve influencing strategy at the group level to help meet bp’s broader ambitions. The role involves supporting our North American power trading and origination team based in Houston or New York (location is flexible). The primary focus will be the coverage of the ERCOT power markets. This will involve working in a squad to develop, maintain, and continuously improve the tools and reports necessary to provide a real-time view of fundamentals that drive market dynamics, focusing on the team’s main exposures and opportunities. This role will also involve working closely with the gas team to ensure an alignment of views on areas of overlap, as well as working with other teams as required to ensure the correct flow of information. Applicants should have experience with the ERCOT markets and their analysis in a commercially focused role. They should possess experience with the market dynamics, fundamental drivers, and analysis tools used for similar roles across the industry. They should also possess some level of understanding of the US gas markets as they impact power prices. Given how important regulatory changes are in Texas, applicants must also be familiar with the regulatory environment that drives power markets in the region.

Requirements

Hold a degree in a quantitative, economics, statistical, mathematical, engineering or similar discipline
Experience with North American power markets as either a trader or an analyst on a trading/origination team.
Experience with the fundamental analysis of the ERCOT markets as well as their associated regulatory frameworks.
Experience working in Python, SQL and excel in a professional setting.
Experience developing, interpreting and improving models to analyze and report power markets.
A commercial focus and experience applying models to commercial decisions is extremely important.
Experience working with a nodal Power systems model eg Dayzer, Uplan etc
Independent thinker; creative in finding alternative solutions.
Proactive approach to delivering results; able to deal with conflict and field critical questioning.
Experience in quantitative modelling skills including working with large and incomplete data.

Nice To Haves

Experience with congestion analysis to support FTRs or P2P trading.
Power flow modeling experience in Power World or similar tool.

Responsibilities

Work closely with the Power Trading & Origination teams to deliver analysis and data on a day-to-day basis.
Develop and/or maintain the models and reports required to provide the framework for trade and/or deal management in ERCOT and other markets as they come up.
Track regulatory developments in Texas and communicate it to the business in a timely way.
Help contribute to and maintain views and toolkits used across all US power and gas markets.
Manage a two-way information flow with the gas and low carbon teams to ensure areas of overlap are aligned.
Work to constantly evolve modelling approaches to utilize emergent technologies and ideas.
Provide ad hoc team and the wider BP group.