Position Description
ESB Trading delivers optimisation, risk management and wholesale market access to ESB’s Generation portfolio and to its third-party customers. Trading plays a critical role in delivering value to ESB through management of its generation and supply business in SEM and GB.
The Forward Trading team are actively involved in wholesale energy trading in the UK, European and Irish markets. The primary role will be asset backed trading in line with current trading and risk policy. In addition, the Junior Trader will also conduct the day-to-day trading requirements of ESB Trading in line with its trading strategy. This will include execution of asset optimisation strategies, fuel procurement policies and power hedging activities. The Trader will also be involved in training and coaching new junior staff.
The successful candidate will:
1. Carry out Asset backed Trading with discretion around timing
2. Carry out Generation Asset hedging and optimisation (power, gas, coal, carbon from within day to 4 years forward)
3. Manage renewable compliance and green certificate trading (ROCs, REGOs and GoOs)
4. Complete Technical and market analysis.
5. Understand macroeconomic price drivers and impact of regulatory changes to core markets
6. Analyse fundamental and technical market conditions, as well as devising and implementing profitable trading strategies
7. Trading Analytics (price forecasting, fundamental analysis)
8. Ensure compliance with all regulatory guidelines and risk limits
9. Identify market opportunities and engaging the relevant commercial teams in developing plans to pursue them
10. Provide recommendations for price exposure mitigation measures.
Key Responsibilities
Responsibilities will cover the items below:
11. Execute the asset optimisation, fuel procurement and power hedging activities associated with ESB’s GB generation assets using timing discretion to add additional value above the gross margin
12. Spark Spread trading and price discovery
13. Take responsibility of any trading books / risk limits allocated to the trader
14. P&L responsibility
15. Work in accordance with agreed guidelines, policies and procedures.
16. Share information with other trading staff, with regards to commercial and operational
17. Activities, market fundamentals and financial modelling
18. Share knowledge and skills openly with other members of the team
19. Develop and maintain relationships with counterparts/clients/brokers
20. Liaise closely with key interfaces including trading counterparties, customers and risk management staff
21. Provide excellent customer service and Identify opportunities to increase effectiveness and efficiencies and share best practice
22. Periodically present market views to Industrial and Commercial customers
23. Keep abreast of current trends and developments in areas of expertise
24. Maintain knowledge and skills in order to carry out full range of duties
25. Facilitate and support others in achievement of team goals and contribute positively to the development of the team and self
26. Demonstrate flexibility and adaptability to change.
Knowledge, Skills and Experience
Essential
27. Minimum 3 years work experience including at least 1+ years’ experience of Power and Gas markets
28. Highly numerate
29. Excellent communication skills
30. Experience of other commodity markets also desirable
Desirable
31. Experience in trading coal and renewable trading
32. Knowledge of weather models and how to interpret
33. Ability to script and automate using R and Python
34. Operational trading experience in the UK power markets
35. Experience with asset-backed trading
36. Proficiency in UK trade execution systems (Trayport/Bloomberg etc.)
37. Comprehensive understanding of a conservative risk management environment
38. In depth understanding of price drivers in the energy markets
Qualifications
Essential
39. Third level qualification with a strong quantative/financial/economics base is required, or equivalent work experience.