FTR Power Trader - PJM​/MISO Market

Financial Transmission Rights (FTR) Power Trader position specializing in the PJM/MISO market.

The FTR Power Trader will develop and execute trading strategies in the PJM/MISO FTR markets to maximize profitability while managing risk. Deep knowledge of the transmission system, congestion patterns, and FTR mechanics is required. The role includes analyzing market fundamentals, executing trades across Long‑term, Annual, and Monthly auctions, and actively participating in the FTR secondary market to optimize the company’s portfolio performance.

• Research and model electricity market supply, demand, and grid congestion fundamentals to identify profitable trading opportunities.
• Develop sophisticated trading strategies based on historical congestion patterns, transmission outages, and market conditions, and implement power flow analysis for new generation integration.
• Monitor variables that influence pricing, availability, and reliability of power resources across the PJM/MISO footprint.
• Analyze and evaluate complex energy transactions and their impacts on FTR positions.
• Integrate quantitative analysis into fundamental trading strategies to optimize portfolio construction and outcomes.

• Execute FTR transactions in Long‑term, Annual, Monthly auctions, and the secondary market via the FTR Center.
• Submit strategic bids and offers aligned with the company’s risk tolerance and portfolio strategy, and actively manage existing positions to maximize value and mitigate risk.
• Coordinate with other trading desks to ensure FTR positions complement the overall energy trading strategy.
• Maintain detailed records of all trading activities and provide regular performance reports.

• Establish and maintain robust risk management practices for FTR trading activities.
• Develop hedging strategies to mitigate congestion risk exposure.
• Monitor and report on portfolio positions, mark‑to‑market valuations, and risk metrics.
• Ensure all trading activities comply with company risk policies and regulatory requirements.

• Stay current on PJM/MISO transmission system developments, rule changes, and market conditions.
• Analyze the impact of renewable projects, plant retirements, and transmission upgrades on congestion patterns.
• Build and maintain relationships with key market participants and stakeholders.
• Collaborate with internal teams to share market intelligence and coordinate strategies.

• Bachelor’s degree in finance, economics, engineering, mathematics, or related field; master’s degree preferred.
• Minimum of 2‑5 years of power trading experience with a specific focus on FTR/CRR markets.
• Demonstrated success in FTR trading strategies and portfolio management.
• Strong understanding of PJM/MISO market structure, rules, and settlement processes.

• In-depth knowledge of FTR mechanisms, including options and obligations.
• Expertise in congestion analysis and transmission system constraints in the PJM/MISO region.
• Proficiency with the FTR Center and other market interfaces.
• Experience with power flow modeling tools such as Enverus and Panorama.
• Advanced data analysis and financial modeling skills using Excel, Python, R, or similar tools.
• Understanding of production cost modeling for electricity markets.

• Strong analytical mindset with ability to identify patterns and opportunities in complex data sets.
• Decision‑making skills under time pressure and market uncertainty.
• Excellent communication skills to articulate trading strategies and results to management.
• Self‑motivated with ability to work independently while contributing to team objectives.
• Detail‑oriented approach to transaction execution and risk management.

This FTR Power Trader position offers an exciting opportunity for an experienced energy trading professional to specialize in the dynamic and complex PJM/MISO FTR markets. The successful candidate will combine market knowledge, analytical skills, and trading experience to generate value through strategic positioning while managing associated risks.

• Normal office working conditions.
• Stationary position 50% of the time due to prolonged periods of sitting or standing.
• Occasional overnight travel may be required.
• Occasional visits to industrial/manufacturing settings; may involve exposure to materials and chemicals, extreme temperatures, loud machinery, and require personal protective equipment.