FTR Power Trader - PJM​/MISO Market

Summary

The following job details the qualifications, responsibilities, and requirements for a Financial Transmission Rights (FTR) Power Trader position specializing in the PJM/MISO market.

The FTR Power Trader will be responsible for developing and executing trading strategies in the PJM/MISO Financial Transmission Rights markets to maximize profitability while managing risk. This role requires deep knowledge of PJM/MISO transmission system, congestion patterns, and FTR market mechanics. The successful candidate will analyze market fundamentals, execute trades across Long-term, Annual, and Monthly FTR Auctions, and actively participate 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 in the PJM/MISO FTR markets .
• Develop sophisticated trading strategies based on thorough analysis of historical congestion patterns, transmission outages, and market conditions . In addition, it is essential to implement strategic power flow analysis for the continual integration of new power generation into the grid.
• 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 and techniques into fundamental trading strategies to optimize portfolio construction and outcomes .

• Execute FTR transactions in Long-term FTR Auctions, Annual FTR Auctions, Monthly FTR Auctions, and the FTR Secondary market via FTR Center .
• Submit strategic bids and offers for FTRs that align with the company's risk tolerance and portfolio strategy . Actively manage existing FTR positions through secondary market transactions 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 generation projects, power plant retirements, and transmission upgrades on congestion patterns .
• Build and maintain relationships with key market participants and PJM/MISO 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 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 Financial Transmission Rights mechanisms, including options and obligations .
• Expertise in congestion analysis and transmission system constraints in the PJM/MISO region .
• Proficiency with FTR Center and other PJM/MISO market interfaces .
• Experience with power flow modeling tools such as Enverus and Panorama .
• Advanced skills in data analysis and financial modeling 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…