PJM Trader

About the Role

We are seeking a highly motivated PJM Congestion Trader to join a growing power trading team in Houston. This individual will be responsible for identifying, analyzing, and executing congestion trading opportunities across the PJM market, with a focus on maximizing P&L through virtuals, FTRs, and congestion-related strategies.

Responsibilities

• Develop and execute congestion trading strategies across PJM markets.
• Analyze transmission constraints, outage schedules, generation dispatch, load forecasts, and market fundamentals to identify profitable opportunities.
• Utilize Dayzer to perform nodal analysis, forecast congestion patterns, and evaluate transmission system impacts.
• Participate in FTR auctions and assess auction opportunities relative to expected congestion outcomes.
• Monitor real-time and day-ahead market activity, adjusting positions as market conditions evolve.
• Build and maintain analytical models to support congestion forecasting and risk management.
• Collaborate with quantitative analysts, traders, and market fundamentals teams to improve forecasting accuracy.
• Track trading performance and communicate market views, trade rationale, and risk exposures to management.
• Stay current on PJM market rule changes, transmission projects, and regulatory developments that may impact trading strategies.

Qualifications

• Bachelor's degree in Finance, Economics, Engineering, Mathematics, Energy Management, or a related field.
• Minimum 5 years of experience trading or analyzing congestion within PJM power markets.
• Demonstrated success generating P&L through congestion trading, FTRs, virtuals, or related power market products.
• Advanced proficiency with Dayzer, including transmission, outage, and congestion analysis.
• Strong understanding of PJM market structure, nodal pricing, transmission systems, and power flow dynamics.
• Experience with data analysis tools such as SQL, Python, Tableau, or Excel.
• Excellent quantitative, analytical, and risk management skills.
• Strong communication and teamwork abilities within a fast-paced trading environment.

Preferred Qualifications

• Experience managing a proprietary congestion trading book.
• Knowledge of neighboring ISOs/RTOs, including ERCOT, MISO, or SPP.
• Ability to automate data workflows and develop proprietary market analytics.

Benefits

Competitive base salary and discretionary bonus structure, commensurate with experience and demonstrated trading performance. Comprehensive benefits package including medical, dental, vision, 401(k), and other employee benefits.