Power Trader
Job Type: Exempt Salaried, Full-Time
Location: New York, NY
Reports To: Director, Trading
Department: Commercial
About Us
TerraForm Power ("TERP"), a platform company of Brookfield Renewable, attracts high-performing individuals who are driven to make an impact in a fast-paced and collaborative environment. We offer unparalleled opportunity to lead and manage one of the largest renewable energy businesses with decades of history, while contributing to the global need for sustainable energy.
We offer tremendous growth opportunity for individuals with an entrepreneurial mindset. The company is committed to employee development, encouraging curiosity, ownership, and continuous learning. You'll be empowered to take initiative, contribute ideas, and grow your career within a supportive and ambitious organization.
Job Summary
Reporting to the Director of Trading, this role will be responsible for managing and optimizing positions across TerraForm's portfolio of wind, solar, and battery energy storage assets, with a primary focus on asset-backed trading in the PJM and ERCOT markets.
The Power Trader will develop and execute trading and hedging strategies involving energy, transmission, capacity, and renewable energy credits (RECs) to maximize portfolio value while managing risk. This role will work closely with Asset Management, Operations, and Finance teams to support commercial decision-making and enhance the performance of TerraForm's renewable energy portfolio.
The ideal candidate brings direct experience in renewable asset optimization, wholesale power markets, and asset-backed trading, including day-ahead and real-time market participation, transmission hedging, and portfolio risk management within PJM and ERCOT.
Key Responsibilities
- Asset Backed Trading and Basis Mitigation
- Develop and execute asset optimization strategies across TerraForm's renewable generation, contracts, and transmission positions to enhance portfolio value within approved risk limits.
- Execute day ahead and real time energy bids across ISOs, managing spot commodity exposures in response to forecast changes, outages, curtailments, and price volatility.
- Schedule assets across ISOs and fulfillment market-based contractual obligations.
- Participate in FTR/CRR/TCC trading strategies to manage congestion and basis risk.
- Negotiate and execute energy and REC transactions through brokers, exchanges, structured auctions, and bilateral counterparties.
- Monitor electricity markets to maintain a deep understanding of supply/demand dynamics, market behavior, and regulatory developments.
- Commercial Data Analytics
- Lead the development and maintenance of energy market tools, including price/generation forecasting and product valuation models, and portfolio optimization frameworks.
- Analyze trading and hedge performance, enhancing models based on backtesting and realized results.
- Conduct commercial due diligence on proposed hedge structures and renewable energy projects.
-
- Reconcile PnL across ISO settlements, trades, REC registries and offtake contracts, resolve discrepancies with settlements and finance teams.
- Deliver insights to support desk decisions, coordinating with Asset Management on performance and asset value reporting.
Skills & Qualifications
- 4-7 years of experience in power trading, with a strong focus on PJM and ERCOT.
- Experience executing through exchanges and broker markets and managing counterparty relationships, including credit terms and collateral.
- Understanding of REC registration and transfers in tracking systems.
- Ability to leverage programming and data analysis for trading, forecasting, and portfolio optimization.
- Decision-making in a dynamic, fast-paced team environment.
- Strong attention to detail and ability to synthesize complex ideas.
- Excellent written and oral communication skills.
Compensation: $145,000 - $165,000; bonus eligible
TERP operates under a variable, performance-based bonus structure. Commercial Traders typically receive bonuses tied to profitability, through optimization efforts by utilizing various trading instruments. As such, P&L performance is one of the key drivers of bonus outcomes. The actual payout range varies between 0% and 150%, depending on individual, group, and business performance. Final bonus decisions are made after the close of the fiscal year by the leadership team.
Recruitment Agency Notice:
TerraForm Power Human Resources team does not accept unsolicited resumes from third party recruiters, staffing firms, or related agencies. The Human Resources team coordinates all recruiting and hiring at our company. We do not accept resumes from third-party recruiters unless authorized by the Human Resources team and if a signed agreement is in place. Any unsolicited resumes will be considered property of TerraForm Power and we are not responsible for any related fees. All communication related to recruiting partnerships should ONLY be directed to the Human Resources team.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws.
For further information, please review the Know Your Rights notice from the Department of Labor.