Principal Consultant - Market Modeling & Analysis

Wood Mackenzie•Houston, TX

About The Position

Wood Mackenzie is a global leader in analytics, insights, and proprietary data for the energy and natural resources sectors. With over 50 years of experience, the company guides decisions for influential energy producers, utilities, financial institutions, and governments. In an increasingly complex energy system, Wood Mackenzie delivers a clear, interconnected view of the entire value chain by fusing proprietary data with analytical expertise and AI. Their team of 2,700 experts across 30 countries connects industries, markets, and regions to help customers identify risks, spot opportunities, and recalibrate strategy with confidence. As a Principal Consultant on the Power Market Modelling and Analysis team within the Americas Power & Renewables Consulting team, you will be a key leader in the growing consulting practice. You will manage and deliver a variety of commercial, transaction, and strategic consulting projects. This role involves all aspects of the consulting process, from shaping opportunities and performing analysis to managing projects and collaborating with clients and Wood Mackenzie experts to develop insights for critical client decisions. The Principal Consultant will be instrumental in developing power market analytics for North American markets, running fundamental production cost models for price forecasts, building scenario analysis, and supporting strategy, commercial advisory, and due diligence engagements. The role requires strong modeling execution, well-organized deliverables, and increasing client responsibility, along with active coaching of junior team members. High levels of creative thinking, analytical and problem-solving abilities, detailed North American power market knowledge, and strong communication skills are essential.

Requirements

Direct experience within the power & renewables industry or in a related consulting environment with demonstrated experience in project management
7+ years of direct working experience at a power and/or renewables focused consulting firm, IPP, power utility, development company, infrastructure fund, bank, or other such analytical or consulting role in the power & renewables industry, including 5+ years of hands-on fundamental power market modelling
Undergraduate degree in engineering, mathematics, physics, economics, or finance.
In-depth understanding of power industry dynamics and North American power markets – market design, LMP formation and price formation, capacity and ancillary services constructs, resource adequacy and transmission; core technologies (wind, solar, BESS, gas/flexible resource), business models and strategies
Analytical skills including but not limited to financial modelling and familiarity with power asset and/or market modelling (commercial) covering BESS and gas-fired generation
Hands-on PCM experience with one or more of the following fundamental models: PLEXOS, AURORA, PROMOD, GridView, EnCompass or equivalent, including model setup, calibration, validation, scenario execution and interpretation of results
Tool development skills and experience such as capacity price, scarcity price, ancillary service price and battery dispatch and thermal dispatch tools utilizing Python, SQL, AI tools (Claude, Copilot, Gemini)
Exposure in interconnection assessment, basis, curtailment, congestion forecasting, shift factor analysis, asset dispatch, revenue forecasting, pro forma development and financial due diligence is highly valued
Exposure to transaction advisory, price forecasts, scenario and sensitivity analysis and asset due diligence for investors, lenders, developers and IPPs is essential
Strong deliverable preparation skills such as creating, organizing and QA/QC of model results into clear dashboards tables, charts, PowerPoint presentations and reports that turn analysis into client-ready deliverables
Proven experience of working in a team environment is essential
Excellent communication and interpersonal skills, with strong writing and presentation skills
Personal time management skills, and workstream management and client service skills, including the ability to supervise junior team members and raise scope changes with the project director

Nice To Haves

Graduate degree, such as, MBA, MS or PhD is preferred

Responsibilities

Plan and manage project workstreams or parts of a bigger and more complex project against scope, timeline and budget, clarify priorities with the project team and keep all team members aligned
Lead and manage the full life cycle of power market modelling engagements
Plan and prioritise own workload and that of team members to ensure project objectives and deadlines are met
Track progress against the project plan and flag risks, delays and scope changes early to the project director
Keep clients and the project director updated on progress, and act as day-to-day client contact
Oversee and review the contribution of junior team members and researchers to ensure high-quality deliverables, completed on time and within budget
Support project close-out (project review, participant feedback, final deliverable and audit file archiving)
Identify follow-up opportunities and raise them with the senior project team members
Support senior team members in business development across the North American power markets, including proposals, scopes, modelling approach, effort estimates and in preparing a pitch deck
Build a strong working-level relationship with our client base and support the pursuit of consulting opportunities
Contribute to the development of North American power market modelling offerings and share best practices with the global sector teams
Generating innovative ideas and approaches to industry issues, both within the assignments and to the consulting practice as a whole
Develop subject matter expertise in fundamental power market and production cost modeling and serve as a thought leader
Develop quantitative models as needed to solve the business needs of the client
Contribute to thought leadership through preparation of data, research, articles, webinars and conference presentations
Lead, support and coach the project team in building, running, calibrating and validating results from production cost models (PCM) such as PLEXOS, AURORA, PROMOD, GridView, EnCompass etc.
Develop a process to organize, QA/QC and interpret model results into clear dashboards, tables, charts and summaries that support the client scope
Support preparation of client deliverables such as PowerPoint presentations, reports and Excel outputs with a clear storyline and results
Review the work of junior staff members for accuracy, consistency and quality, and coach them on modelling and deliverables
Extract and analyse data from internal and external sources such as ISO/RTO databases, websites, industry interviews and Wood Mackenzie proprietary data and products
Demonstrate high standards of professionalism and attention to detail to ensure the highest quality analysis is delivered
Take ownership for the analysis undertaken, and explain it to clients and project leads in a coherent and credible manner
Develop long-term power price forecasts (energy, capacity, ancillary services) using capacity expansion and PCM simulations, and run scenario and sensitivity analyses summarizing the key value drivers
Apply in-depth knowledge of regulated and deregulated North American power markets (ISO/RTO market design, policy and regulation) for PCM model setup, evaluating policy and regulatory framework to run scenario and sensitivity analyses explaining key value drivers and interpretation of study results
Support nodal price forecast and with the ability to clearly explain key concepts, such as, shift factors, components of LMP, congestion, basis risk, curtailment and negative prices
Lead interconnection, basis and congestion assessments, and pro forma preparation to support asset valuation
Lead and develop asset dispatch tools using Python, SQL and AI tools
Support buy-side and sell-side transaction advisory and asset due diligence such as merchant revenue forecasts, PPA and hedge analysis, and market studies for investors and lenders
Effective and timely communication with clients
Demonstrate effective written and verbal communication and presentation skills, both internally and externally
Establish good working relationships with colleagues across the business
Manage project timelines, scope delivery, scope change effectively
Present clearly and concisely to clients and colleagues
Proven effective cross team working skills, being able to work in an open and trusting way across the broader consulting, research and sales teams in Wood Mackenzie
Adopt a flexible approach towards work
Support consulting practice development by working with colleagues to understand what new offerings can be taken to clients
Coach and mentor junior team members, providing timely, constructive feedback on modelling framework and deliverables