FTR Trader

Boston Energy Trading and Marketing (BETM) is a wholly-owned subsidiary of Mitsubishi Corporation, a global integrated business enterprise that develops and operates businesses across virtually every industry. Mitsubishi’s current activities have expanded far beyond its traditional trading operations to include investments and business management across the North American energy value chain.

Boston Energy Trading and Marketing provides asset management & optimization services to owners of generation and energy storage in North America, and wholesale energy to retail power & gas suppliers. Our proprietary traders cover competitive power markets including New England, Midwest and Western markets. BETM has been optimizing our customers’ generation assets for over 15 years. Our current organization has its roots in Citizens Power, dating back to 1989 when Citizens obtained the first FERC power marketing license and market-based-rate authorization. Mitsubishi’s Diamond Generating acquired BETM from NRG Energy in August 2018, and prior to 2014 BETM was known as Edison Mission Marketing and Trading. Mitsubishi's provides BETM with investment-grade credit support for BETM’s commercial activities.

BETM is looking for an experienced FTR trader to add to the team. The role of the FTR Trader is research and modelling of supply and demand fundamentals and grid congestion in nodal ISO markets, and deploying trading capital to make profitable FTR trading decisions BETM participates in all nodal power markets, with a focus on congestion trading and near-term futures markets. The FTR Trader will work closely with a team of energy trading professionals from diverse backgrounds that include economics, operations research, physics, electrical engineering, public policy and business, and have the opportunity to deploy their highly technical expertise in the field of energy economics and trading in electricity markets. As a top trading shop in electricity markets that are very technical and dynamic, Boston Energy Trading and Marketing (BETM) is an ideal place to grow and put real world trading and energy markets in action.

Essential Duties & Responsibilities 

The candidate is someone with prior FTR trading experience, a demonstrated track record of FTR profitability and very strong quantitative and research skills, who is looking to work in a small, dynamic environment where their efforts are directly tied to commercial decisions and outcomes. The candidate should be extremely adept at communicating information and analyses transparently. They should be comfortable making hypotheses and judgments from incomplete information and learning from that experience. 

The FTR Trader will build and manage models intended to predict electricity market prices and identify potential trading opportunities. Experience with Optimal Power Flow (OPF) models or electricity market simulation tools (such as Powerworld, DAYZER or other equivalents such as UPLAN, Plexos, GridView, GE MAPS, Aurora etc) is required. The FTR Trader would ideally also be self-sufficient in accessing, managing and dissecting voluminous data on the power markets and constantly improving and calibrating our modelling efforts to real world outcomes. 

Responsibilities:

• Trading FTRs in ISO auctions for one or more ISOs
• Research and modelling of electricity market supply, demand and grid congestion fundamentals for daily trading and to assess longer-term trends  
• Maintaining, executing and calibrating power flow optimization models
• Working with a team to implement systematic congestion analysis and valuation using tools such as optimal power flow (OPF)
• Performing general quantitative analyses and econometric studies of energy markets
• Tracking and analyzing electricity markets, and communicating efficiently regarding market fundamentals
• Data mining and analysis to identify commercial opportunities   

Minimum Requirements:

• Bachelor's degree in Mathematics, Economics or related quantitative discipline Minimum of one (1) year of experience in electricity markets in a consulting, commercial, engineering role or experience at an ISO  
• Team-oriented and collaborative
• Must be effective working in a fast paced team environment, and able to see project through to completion  

Preferred Requirements

• Prior FTR Trading Experience preferred either in a trader role or as a trading analyst
• Masters or PHD in Electrical Engineering, Economics, Math Physics or other quantitative discipline
• Proficiency with programming tools such as python, visual basic and SQL or other analysis supporting programming tools is desired
• Strong quantitative and analytics background, including advanced-level skillset in simulation, optimization, statistics, options pricing theory; proficiency with data science, machine learning and deep techniques such as regression, classification etc