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Market Fundamentals Specialist- Portland, Oregon #48042

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Date: Jan 31, 2019

Location: Portland, OR, US, 97232

Company: PacifiCorp

General Purpose

This position’s core purpose is the quarterly production of PacifiCorp’s 20-year Official Forward Price Curve (OFPC) for electricity and natural gas. As such, this entails a hands-on understanding of: production cost modeling, natural gas markets, power system economics, asset evaluation, and basic statistical and financial metrics.  Advanced proficiency in EXCEL and business writing is a must.

Responsibilities

  • Produce the Company’s quarterly OFPC for natural gas for the western interconnect.
    • Ensure timely delivery of quarterly OFPC and customer-specific deliverables (typically first business day of new quarter).
    • Research and understand current natural gas market developments and long-term supply and demand fundamentals.
    • Using vendor-supplied natural gas forecasts, research and analyze different supplier forecasts for most defensible forecast.
    • Present and recommend the natural gas forecast to be used in driving the quarterly OFPC for electricity.
    • Present and defend recommendation to internal and external stakeholders.

 

  • Produce the quarterly OFPC for electricity, using a production cost simulation model, for the western interconnect.
    • Ensure timely delivery of quarterly OFPC and customer-specific deliverables (typically first business day of new quarter).
    • Keep model assumptions current and accurate (loads, unit characteristics, fuel costs, renewables, environmental policy, transmission limits, resource retirements, and resource additions)
    • Implement forecast of renewables to satisfy renewable portfolio standards in the model.
    • Understand key drivers of electricity price forecasts as used by the model.
    • Document inputs and outputs.
    • Review forecast/model results to ensure they are reasonable and consistent with input assumptions and power system economics.
    • Present and defend forecast to internal and external stakeholders.
  • Produce scenarios and ad-hoc studies to support requested asset valuation studies, the integrated resource plan (IRP) and environmental studies, etc.
  • Understand long-term marginal cost modeling, both deterministic and probabilistic approaches.
  • Update the production cost model when major new versions of the software code or database are released. Typically, major updates occur yearly or biennially.
  • Analyze and format large amounts of data for pre- and post-processing of model data.
  • Produce clear and concise communication materials (explaining complex information e.g., modeling conventions, assumptions, results) to internal and external stakeholders.
  • Provide fundamentals write-up support for the semi-annual natural gas hedge.
  • Gather, analyze, and interpret internal data, third party forecasts, and market data to inform modeling and hedging support. This requires web-based research and attending informative webcasts.
  • Identify modeling improvements.

 

Requirements

  • Master’s Degree in Economics, Statistics, Finance or related field. (A Bachelor’s degree with seven years of hands-on production cost simulation modeling can be substituted for a Master’s Degree).
  • A minimum of three years of production cost modeling experience. 
  • Research and analytical skills including the ability to obtain relevant data, evaluate complex situations, develop creative alternatives, provide recommendations, and negotiate and influence outcomes.
  • Excellent writing and EXCEL skills.
  • Project management and leadership skills including the ability to work as a team member to maintain project timelines, budgets, and deliver on commitments.
  • Communication and interpersonal skills involving the ability to establish trust, maintain confidence, and understand social behavior and interactions.
  • Ability to work under limited supervision in a fast paced work environment.

Preferences

  • Advanced degree.
  • Prior experience forecasting power prices and natural gas prices within the Western U.S.
  • Familiarity with PacifiCorp’s transmission system and knowledge of the bulk electric transmission system in the Western U.S.
  • Knowledge of power system economics.
  • Experience working in a regulated environment.

Additional Information

Primary Location: Portland

Department: 00001027 Pacific Power

Schedule: FULLTIME

Personnel Subarea: [[personnelSubarea]]

Hiring Range: 88,000-107,300 

Employees must be able to perform the essential functions of the position with or without an accommodation.

At PacifiCorp, we encourage everyone to work together. We embrace diversity and value the distinct perspectives of all our employees. We strive to cultivate a workplace that connects each employee to the organization and enables all individuals to participate and contribute to their full potential.  

It is PacifiCorp's policy to provide and promote equal employment opportunity to all employees and applicants in accordance with local, state and federal laws and regulations governing personnel activities. In accordance with federal guidelines, PacifiCorp is committed to a program of affirmative action. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, disability, veteran status, national origin, sexual orientation or gender identity.

All offers of employment are contingent upon the successful completion of a background check and drug screening.

 


Nearest Major Market: Portland Oregon

Career Segment: Database, Supply, Power Systems, Project Manager, Technology, Operations, Energy