Location:
Toronto, ON, CA, M5G 1X6
Req ID: 38093
Status: Regular Full Time
Education Level: 4 year University degree in engineering, sciences, economics or business administration
Location: Toronto, ON
Shifts(s): Days
Travel: Yes- 10%
Deadline to Apply: December 19, 2021
OPG continues to set the bar for environmental protection, community involvement and economic impact all while safely keeping the lights on.
Now we've set our sights on being a net-zero carbon company by 2040 and a catalyst to help the economies where we operate achieve net-zero by 2050.
OPG operates a diverse portfolio of generation assets including nuclear, hydroelectric, biomass and solar. We are also a clean tech leader and innovator, offering challenging and unique work opportunities. Help us use our power to change the world.
New! In 2024, Ontario Power Generation (OPG) is establishing a new corporate headquarters on a campus setting in the Municipality of Clarington located within Durham Region. The new campus will include the existing Darlington Energy Complex located just south of Highway 401 and a new building to be constructed on adjacent land presently owned by OPG.
BE THE GENERATION to help build a brighter tomorrow.
JOB OVERVIEW
Ontario Power Generation (OPG) is looking for dynamic, strategic and results driven professional to join our team in the role of Associate Trader.
Reporting to the Director of Term Trading, the Trader manages the physical and financial risks arising from the electricity and gas positions within the Term Trading Organization including positions for OPG's subsidiary OPGET. As a member of the Trading team, this team member is expected to work with the rest of the team members to collectively and consistently meet and exceed profitability targets for proprietary trading in the wholesale markets. This team member is entrusted with transactional authority to trade the financial instruments (electricity and gas related to both Canadian and US organized electricity markets in the over-the-counter market. The trading horizon spans from balance of day up to and including prompt month for electricity; and from daily up to and including prompt year for gas to meet stations' requirement. All assigned transactional activities (involving products, markets, volume and tenors, etc.) will be conducted in strict accordance with the Market Risk Management Standard and Controls.
This is an exciting opportunity to work in an environment where you will contribute to OPG's public outreach, engagement and education efforts as part of the company's commitment to growing its social license.
KEY ACCOUNTABILITIES
- Support in the negotiation with external natural gas transportation and related services from providers such as TransCanada Pipeline, Enbridge, and Union Gas to ensure future needs of the station(s) are met and obligations under the power sale agreement (e.g. with OPA) are fulfilled
- Support in the negotiation with external counterparts all terms and conditions associated with the purchase and sale of natural gas for term up to 1 year. Decide within the parameters established by Integrated Revenue Planning, optimal market opportunities for the purchase and sale of the approved products, including conducting and issuing RFP (request for proposal) to natural gas marketers for longer term gas supply.
- Support in the development of future gas supply options to meet future requirements of the stations.
- Manage all financial risks arising from OPG's and its subsidiary's electricity and gas from balance of day up to and including prompt month. This involves:
- Trading financial instruments in the OTC market; deciding and scheduling purchase and sale commitments with Canadian and US organized markets (i.e. ISOs); and negotiating the purchase and sale of energy contracts;
- Ensuring that all committed physical electricity transactions are deliverable within transmission system security limits and properly tagged;
- Ensuring that all gas supply and services are contracted and managed optimally throughout the life of these assets while meeting specified stations' requirements;
- Ensuring that contractual terms and conditions of all existing gas transportation and related service contracts are respected.
- Assessing the risk, return and optionality of all contemplated transactions prior to execution;
- Reserving physical transmission to effect physical delivery of energy products;
- Exchanging information as required with the Canadian and/or US organized electricity markets (e.g. IESO, NYISO, MISO, PJM, ISONE)
- Developing and executing trading strategies to exploit commercial opportunities in the assigned markets;
- Providing recommendation to the acquisition of the congestion management products (e.g. financial transmission rights) and physical transmission;
- Providing, in a timely manner, clear direction, operational guidelines and functional support for the execution and management of positions being passed to other team members operating in the real time environment;
- Working with other groups (such as Asset and Resource Optimization, Market Operations, and Origination) to identify, develop and support new business opportunities.
- Ensure all transactional activities are carried out in strict accordance to the Market Risk Management Standard and Controls, and meet OPG's Code of Conducts and all Regulatory compliance (e.g. FERC).
- Maintaining appropriate information such as:
- Develop and maintain market intelligence information for assigned markets, and provide input to the forward pricing process;
- Ensure all necessary documentation related to assigned markets is in order and retrievable in a timely manner;
- Maintain detailed records for verification, reporting and billing purposes on each transaction and maintain a log;
- Implement best practices for audit and documentation.
- Maintaining relationships, staying current with industry changes and market conditions
- Carry out price correlations, spread trade analysis and technical analysis as required to support proprietary trading, origination and structured transactions;
- Develop and implement proprietary analysis to price forwards, volatility and market correlations for power markets using various fundamental, analytical and technical tools;
- Develop and maintain effective industry contacts and relationships with marketers, brokers and counterparties;
- Interpret indicators and analyze surrounding electricity and gas markets in Canada and the USA for the purpose of identifying, advising and exploiting opportunities.
- Keep abreast of regulatory and market developments and ensure that the impact of the proposed changes is addressed with respect to preceding accountabilities for assigned market.
- Assist Junior Traders in the development of daily trading decision.
- Provide guidance and support to team members in the real time environment.
- Work with Business Services & Information Technology to ensure Trading applications and databases are in good standing order to support the business.
- Provide input and recommendation to the Manager for the trading strategy.
- Perform other duties as required.
EDUCATION
- 4 year University degree in engineering, sciences, economics or business administration
QUALIFICATIONS
- Requires experience to have acquired a working knowledge of trading commodities or financial instruments, risk management principles and associated tools.
- Requires experience in Bulk Electricity System (BES) operation including the impact on transmission limits of power flows and the resultant impacts on market operations and pricing.
- Requires practical experience to have gained an understanding of characteristics of generation station operation including hydroelectric generation, thermal generation and nuclear generation.
- Requires experience to become familiar with the technical interactions and related commercial transactions between large power systems that are interconnected with one other.
- Requires experience in a commercial environment, including intelligence gathering and negotiation activities.
- Requires a good working knowledge of personal computer applications, including Internet and internal software and systems.
- A period of over 8 years and up to and including 10 years is considered necessary to gain this experience.
- Ability to demonstrate and apply sound analytical thinking skills and to have gained an application and understanding of business principles and operations.
- Requires a good knowledge of oral and written English to ensure effective communication skills.
Ontario Power Generation
700 University Ave
Toronto
Ontario Canada
www.opg.com
