Sr. Energy Trader

Company Overview:

GridStor is a rapidly growing, grid-scale energy storage developer, owner and operator backed by Goldman Sachs Asset Management ("GSAM") and led by experienced clean energy industry professionals. We acquire and develop battery storage projects in markets across North America. GridStor's mission is to accelerate the transition to a carbon-free, resilient grid by rapidly deploying stand-alone energy storage at scale.

GridStor is based in Portland, Oregon, and offers competitive compensation and a wide selection of benefits including unlimited paid time off. Read more about life at GridStor at: https://gridstor.com/careers/

Role Summary:
GridStor is looking for an experienced Sr. Energy Trader to join our team. This position is responsible for trading, scheduling, and managing the risk of GridStor's ERCOT trading portfolio. The successful candidate will execute trading strategies, analyze market fundamentals, manage risk, and ensure compliance with all regulatory requirements and company policies and protocols. The Sr. Energy Trader will be responsible for managing and growing the group's capabilities to optimize the daily trading and dispatch of its battery energy storage systems (BESS) in power markets, with an initial concentration in ERCOT.

Key Responsibilities:

• Responsible for trading and optimizing GridStor's battery energy storage system (BESS) assets in ERCOT.
• Determine and execute optimal trading positions in coordination with BESS dispatch capabilities, including buy/sell commitments for real-time, day ahead, and ancillary services markets, in conjunction with various proprietary and third-party software and forecasts.
• Monitors variables including supply/demand, weather, development and structural risks that influence pricing, availability, and exposures.
• Work with Origination & Marketing, Analytics, and Risk Committee in analyzing and evaluating complex transactions to ensure that risks and benefits are appropriately identified and priced, as well as the contractual terms are favorable to and consistent with company risk policies.
• Work with Analytics, IT, and third-party vendor(s) to develop, enhance, and maintain the optimization and analysis tools required for effective trading.
• Work with Asset management and Engineering teams in coordinating asset maintenance schedules and submit and/or adjust outage tickets as needed.
• Assist in risk management to align trading strategies with overall company risk policies.
• Continuously make recommendations on the appropriate risk approach as the business grows and the market evolves.
• Develop BESS trading & bidding strategies based upon proprietary applications, forecast inputs, knowledge of market design and BESS technology constraints to determine optimal market deployments of BESS on a day-to-day basis.
• Implement process to execute daily trading & scheduling decisions for next-day BESS operation in the ERCOT market. Scheduling options will include hourly commitments in the Day-Ahead Energy Market, Day-Ahead Ancillary Service market, or allocation of capacity into the Real-time market for price-based dispatch.
• Ensure that BESS assets are scheduled and managed in the most effective manner under prevailing market rules and establish ongoing performance process to continuously track BESS performance, compliance, and charging/discharging cash-flows.
• Leverage your skills in statistical analysis, market fundamentals, ISO protocols (ERCOT, CAISO a plus), and regulatory issues to drive the insights into historical and forward pricing curves for power, ancillary services, renewable energy credits, and all other cost components of retail electricity products.
• Establish communication protocols to minimize any gaps between BESS commercial operations activities analysis/scheduling/market commitment and BESS asset management activities deployment/dispatching/performance.
• Monitor and evaluate ISO proposals regarding operating rules for BESS market participation, particularly with respect to new Real Time Co-optimization rules currently under discussion by ERCOT stakeholders.
• Analyze market data to develop expertise regarding ISO dispatch processes, ancillary service market dynamics, and strategies to use market tools to manage risks of limited-duration exposure (e.g. the ability to manage exposure through a portfolio of multiple BESS assets)
• Articulate with Mid-Office the development and improvement of the risk metrics, and the proper representation of assets and existing hedges s in our management systems.
• Collaborate with the Analytics and Solutions Architect teams to develop and automate iterations to existing algorithms for BESS operations & optimization modeling solutions.
• Support Asset Management & leadership through evaluation and recommendation of new operating strategies for battery storage, such as revised bidding and hedging strategies
• Coordinate with T&I team to simulate scenarios, analyze results, and propose strategies to hedge congestion.
• Support Business Development teams, offering views on particular ISOs protocols, regional congestion landscape, price of the products commercialized, available incentives, etc.

Qualifications & Competencies:

• Education: Bachelor's degree in finance, engineering, mathematics, computer science, or a related field; Masters preferred.
• Experience: 5+ years of experience in trading ISO products with an emphasis on ERCOT.

• In-depth knowledge of power market fundamentals, with expert understanding of physical energy and ancillary markets.
• Experience with CAISO markets a plus.
• Solid understanding of gas infrastructure a plus.
• A preferred statistical foundation would be a strong Plus. (i.e., Linear Regressions, Multivariate Statistics, etc.).

• Location & Availability: Preference for Colorado or Texas.
• Organizational Skills: Exceptional organizational abilities with keen attention to detail. Capable of managing multiple tasks simultaneously in a fast-paced environment and seeing delegated projects through to completion.
• Adaptability: Ability to be agile and flexible, work under pressure, readily taking on tasks outside the typical scope of the role as needed.
• Confidentiality: Proven ability to handle highly confidential information with utmost discretion.
• Integrity & Judgment: Strong track record of excellent judgment and integrity in previous roles.
• Technical Proficiency: Demonstrated proficiency in the Microsoft Office suite and TEAMS.
• Experience using: Excel (with VBA) and Python (SQL is a great differentiator).

• Resourceful, ability to use a variety of tools, data sources, and systems; and inherent curiosity to procure and test new resources.

• Communication Skills: Excellent verbal and written communication skills.
• Problem-Solving: Adaptable, with the ability to prioritize tasks effectively, make decisions quickly, and approach challenges with a creative, proactive mindset.
• Team Orientation: Highly motivated to support and collaborate with team members, contributing to collective success while also being able to work independently.

Compensation and Benefits:

• GridStor offers an attractive Total Rewards package, including:
  • Competitive base salaries commensurate with experience with an annual cash bonus (based on Company and individual performance)
  • Generous paid leave
  • Employee participation in Long Term Incentive Plan
  • Comprehensive benefits package including medical, dental, vision, life, and disability insurance, including coverage for domestic partners and eligible domestic partner children
  • HSA/FSA for participating employees
  • 401(k) plan with company match and immediate vesting
  • Continuing education and professional development
  • Cellphone reimbursement, hybrid work environment, healthy snacks, volunteer opportunities, company outings, and more.

Company Operating Principles:
GridStor's Operating Principles represent who we are, how we work, and what we believe.

We Collaborate. We believe trust is given, not earned. We honor each other's zone of genius and seek to challenge ideas, not each other. We listen to each other's points of view and work hard to find the better solution. We are one team.

We Are Humble. We like hard work, but don't make work hard. We know we have a lot to learn and never grandstand or take up all the space in the room. We are kind. We are welcoming. We are inspired by our mission to decarbonize the grid.

We Create the Future. We are curious. We go deep, search for the best idea, and then move fast. We always focus on the few things that matter most. We know there will be setbacks, so we show up every day ready to learn and be better, together.

We Show Up for Each Other. We keep each other fully informed. We seek to understand. We coach, we don't blame. We share our points of view and seek to make each other better every day. We believe everyone creates culture in every moment, every day.

We Do Hard Things. We view challenges as opportunities. We are resilient. We are all owners, and we act like it. We understand change requires taking risks and we push ourselves and our partners. We do what is right as opposed to what might be best for any one of us.

Apply online at www.gridstor.com/careers