Power Trader

About the role

TerraForm Power, a platform company of Brookfield Renewable, seeks an experienced Power Trader to join its Trading Department. Reporting to the Director of Trading, this role will manage and optimize positions across the company's renewable energy portfolio, focusing on asset-backed trading in the PJM and ERCOT markets.

Responsibilities

• Develop and execute trading and hedging strategies involving energy, transmission, capacity, and renewable energy credits (RECs) to maximize portfolio value while managing risk.
• Work closely with Asset Management, Operations, and Finance teams to support commercial decision-making and enhance the performance of TerraForm’s renewable energy portfolio.
• Manage day-ahead and real-time energy bids across ISOs, responding to forecast changes, outages, curtailments, and price volatility.
• Schedule assets across ISOs and fulfill contractual obligations based on market-based agreements.
• Participate in FTR/CRR/TCC trading strategies to manage congestion and basis risk.
• Negotiate and execute energy and REC transactions through brokers, exchanges, structured auctions, and bilateral counterparties.
• Maintain a deep understanding of supply/demand dynamics, market behavior, and regulatory developments in electricity markets.
• Develop and maintain energy market tools, including price/generation forecasting and product valuation models, and portfolio optimization frameworks.
• Analyze trading and hedge performance, enhancing models based on backtesting and realized results.
• Conduct commercial due diligence on proposed hedge structures and renewable energy projects.
• Reconcile PnL across ISO settlements, trades, REC registries, and offtake contracts, resolving discrepancies with settlements and finance teams.
• Deliver insights to support desk decisions, coordinating with Asset Management on performance and asset value reporting.

Requirements

• 4-7 years of experience in power trading, with a strong focus on PJM and ERCOT.
• Experience executing through exchanges and broker markets and managing counterparty relationships, including credit terms and collateral.
• Understanding of REC registration and transfers in tracking systems.
• Ability to leverage programming and data analysis for trading, forecasting, and portfolio optimization.
• Decision-making in a dynamic, fast-paced team environment.
• Strong attention to detail and ability to synthesize complex ideas.
• Excellent written and oral communication skills.