Market Strategist, North America Power

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Entity:

Supply, Trading & Shipping

Job Family Group:

Supply & Trading Group

Job Description:

About Us

Our purpose is to bring together people, energy and markets to power and navigate a changing world. In a time of constant change and possibility we need new talent to pursue commercial opportunities, fueled by world-class insight and expertise. We’re always striving for more innovative digital solutions, sustainable outcomes and closer collaboration across our company and beyond, and you could be part of that too. Together we continue to grow as the world’s leading energy company!

About the role

The Market Strategist role resides in the Gas and Power Strategist team (part of the larger analytic function). One of the core elements 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 that focus 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 in as much 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.

Key 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.

Essential education, experience and 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.
  • Proa
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