Senior Manager CRR & FTR Trading, Market Optimization & Trading is responsible for developing, executing, and optimizing Clearway's congestion management strategies through active participation in ERCOT and CAISO's Congestion Revenue Rights (CRR) and Day-Ahead markets and the PJM Financial Transmission Right (FTR).
Requirements
- Develop and execute CRR, FTR, and congestion trading strategies to hedge and optimize portfolio congestion risk across ERCOT, CAISO, and PJM.
- Analyze historical and forecasted congestion patterns to identify trading opportunities in monthly and annual CRR auctions.
- Manage portfolio-level exposure to nodal price risk through CRR / FTR acquisitions, sales, and virtual positions.
- Support the Real-Time and Day-Ahead MOT team with congestion insights and locational pricing forecasts.
- Collaborate with Market Fundamentals, Asset Management, and Origination to align CRR strategies with commercial hedging and offtake structures.
- Monitor project-level financial performance tied to congestion costs, basis exposure, and hedge efficiency.
- Maintain dashboards and reporting tools to track CRR positions, portfolio exposure, and P&L attribution.
- Utilize power flow and production cost modeling software to forecast congestion and simulate transmission constraints.
- Coordinate with Fundamentals and Analytics teams to enhance modeling of nodal prices, transmission outages, and topology changes.
- Leverage programming tools to automate congestion analytics and scenario back-testing.
- Research regulatory filings, transmission plans, and outage schedules to anticipate market shifts.
- Conduct in-depth analysis of ERCOT, PJM, and CAISO's transmission topology, load growth, and renewable generation trends.
- Monitor weather, outage, and project interconnection developments that impact congestion patterns.
- Communicate congestion forecasts and market insights to internal stakeholders, including senior management and trading desks.
- Develop portfolio risk limits and maintain portfolio-level risk metrics accounting for cross-market correlations in energy, congestion, and REC prices.
- Review forward market price volatility curves and correlation assumptions for stochastic risk modeling.
- Facilitate trading strategy performance benchmarking and establishing risk limits.
- Develop and apply portfolio optimization techniques to drive hedge strategy decisions while balancing the risk-adjusted revenue of Clearway's renewable assets.
- Hedging strategies include DART optimization, CRR/FTRs, term hedge, and PPA transactions.
- Perform daily and weekly portfolio assessments to identify opportunities to maximize portfolio profit opportunities and identify risks.
- Ensure CRR/FTR trading activities comply with corporate and project-level risk policies, market rules, and Market protocols.
- Work closely with Risk, Accounting, and Settlements to reconcile positions, P&L, and collateral management.
- Maintain compliance documentation and participate in periodic audits.
- Partner with Market Fundamentals, Origination, Development, and Asset Management teams to incorporate CRR/FTR and congestion considerations into project siting and contracting decisions.
- Provide market intelligence and due diligence support for M&A transactions, new developments, and repower evaluations.
Benefits
- Generous PTO
- Medical, dental & vision care
- HSAs with company contributions
- Health FSAs
- Dependent daycare FSAs
- Commuter benefits
- Relocation
- 401(k) plan with employer match
- Variety of life & accident insurances
- Fertility programs
- Adoption assistance
- Generous parental leave
- Tuition reimbursement
- Benefits for employees in same-sex marriages, civil unions & domestic partnerships
