Job Description Summary
The Environmental Products Trader will be responsible for transacting and managing Renewable Energy Certificates (REC)s and Carbon Allowances portfolio on behalf of PGE. Responsible for developing procurement, disposition, optimization strategies of Renewable Energy Credits, as well as their commercial execution for balancing PGE's carbon obligations. As a vertically integrated utility serving load in Oregon and being an active participant in the wholesale market in the WECC, PGE has obligations to meet Oregon Regional Portfolio Standard and hard carbon targets, as well as any Washington and California related carbon obligations related to our wholesale activities to optimize PGE's portfolio of assets for the benefit of our retail customers.
Job Function
The role includes ensuring that PGE complies with all regional regulations, optimizing trading strategies, and meeting renewable energy targets while reducing carbon emissions. Day-Ahead & Term Trading conduct purchase and sales transactions to increase margin and minimize customer costs. An in-depth understanding of the impacts of environmental products around hedging and trading activities is essential. Responsible for interacting with market participants to develop, negotiate and execute opportunistic transactions that create value for the company. The Environmental Products Trader is responsible for analyzing and reacting to current competitive market conditions and ensuring that all transactions are accurately recorded and reported. Responsible for analyzing and evaluating complex energy transactions to ensure that all relevant aspects, including energy price, transmission, counterparty, and contractual terms, are favorable to and consistent with PGE Risk Policies and Procedures.
Key Responsibilities
- REC Management and Strategy: Monitor and manage PGE's dynamic REC portfolio including strategy planning, transacting, and ensuring accurate reporting. Ensure that RECs are properly registered, retired, and received. Work with Traders to develop sound REC strategies, and execute REC purchases and sales. Collaborate with Origination and Renewable Initiatives teams on renewable energy transactions and generation procurement to ensure that renewable generation has necessary certification in WREGIS and state programs.
- Emission Markets and Trading: Understand Oregon, California, and Washington emission programs. Develop and implement trading strategies based on projected emission allowance needs to meet regulatory obligations. Monitor emissions markets, track regulatory changes, develop forward strategies that meet target obligations and adjust strategies accordingly. Execute trades in the emissions market, ensuring that PGE complies with cap-and-trade programs and regulations. Manage relationships with brokers, traders, and other market participants.
- State Emission Limit Monitoring: Understand OR DEQ Emission limits and calculations for PGE thermal generation. Work with Emissions teams to analyze and plan forward operations to ensure that PGE is within all DEQ limits.
- Regulatory Compliance and Reporting: Ensure that PGE complies with all relevant state, regional and federal regulations as well as verification and reporting requirements. Work with internal PGE staff to prepare and submit required reports for verification and with regulatory agencies. Stay updated on potential changes in environmental regulations and assess their impact on PGE's wholesale operations.
- Preschedule Planning, Transacting and Scheduling: Day-ahead scheduling experience is preferred or develop and demonstrate an in-depth understanding of Day-ahead trading, transmission utilization and scheduling practices.
- Marketing Analysis and Strategies: Serves as Power Operations central point of contact regarding REC and Emissions trading. Conduct analysis of market trends, pricing, and risk assessment associated with REC and emissions trading. Provide insights and recommendations to senior management on trading strategies and market opportunities. Research and stay updated on policy, rule changes, and regulations within WECC and their impact on PGE's wholesale operations.
- Internal Guidance and Coordination: Assists in training Operations staff in environmental products trading and delivery. Provides technical oversight and coordination of trader activities to ensure alignment. Ensures cross-functional alignment for implementation of programs. Cooperates with Term, Prescheduling and Risk Management to ensure compliance with policies and practices. Provides operational guidance concerning state and federal regulatory impacts to Power Operations and helps coordinate compliance with applicable Federal Energy Regulatory Commission (FERC) orders, North American Electric Reliability Corporation (NERC), Western Electricity Coordinating Council (WECC) and other applicable reliability standards and transmission tariffs and business practices. Assists in the development of environmental product policies and procedures. Monitors industry and market trends and developments and updates management on relevant changes. Assists in development of testimony and response to data requests to support rate case requirements and outside stakeholder data requests.
- Accounting and Reporting: Accounts for all details of REC and Emission transactions; ensures that all verification, regulatory reporting and emission limits in compliance along with necessary documentation.
- External Relations: Represents PGE in industry-related regional and national organizations and forums, including technical committees and workgroups.
Education/Experience/Certifications
Education: Requires a bachelor's degree in finance, economics, engineering, math, science, marketing or other related field or equivalent experience.
Experience: Typically eight or more years in energy trading, derivatives, marketing or bulk electronic and gas system management or related field.
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