Job Title: UK Power Trader
Salary: £85K+ bonus
Our client is a strong, diversified, vertically integrated utility company who operates right across the electricity market: from generation, through transmission and distribution to supply. In addition, our client extracts further value at certain points along this chain: supplying gas, using client's networks to carry fibre for telecommunications, developing electric vehicle public charging infrastructure and more.
The Forward Trading team are actively involved in wholesale energy trading in the GB markets. The primary role will be asset backed trading in line with current trading and risk policy. In addition, the Trader will also conduct the day to day trading requirements of our client 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.
Asset backed Trading
Generation Asset hedging and optimisation.
Technical and market analysis.
Analysing fundamental and technical market conditions, as well as devising and implementing profitable trading strategies.
Trading Analytics (price forecasting, fundamental analysis).
Ensuring compliance with all regulatory guidelines and risk limits.
Identifying market opportunities and engaging the relevant commercial teams in developing plans to pursue them.
Providing recommendations for price exposure mitigation measures.
Execute the asset optimisation, fuel procurement and power hedging activities associated with client's GB generation assets.
Spread trading and price discovery.
Take responsibility of any trading books / risk limits allocated to the trader.
Work in accordance with agreed guidelines, policies and procedures.
Share information with other trading staff, with regards to commercial and operational.
Activities, market fundamentals and financial modelling.
Share knowledge and skills openly with other members of the team.
Develop and maintain relationships with counterparts/clients/brokers.
Liaise closely with key interfaces including trading counterparties, customers and risk management staff
Provide excellent customer service o Identify opportunities to increase effectiveness and efficiencies and share best practice.
Keep abreast of current trends and developments in areas of expertise.
Maintain knowledge and skills in order to carry out full range of duties.
Facilitate and support others in achievement of team goals and contribute positively to the development of the team and self.
Demonstrate flexibility and adaptability to change
Knowledge, Skills and Experience
Must have 3+ years' experience of UK Power and Gas markets primarily in front line trading
Must have 2+ years' experience taking commodity exposure and running own P&L book within a defined VaR risk framework
Operational trading experience in the UK power markets
Experience with asset-backed trading
Proficiency in UK trade execution systems (Trayport/Bloomberg etc.)
Comprehensive understanding of a conservative risk management environment
In depth understanding of price drivers in the energy markets
Excellent communication skills
Experience of other commodity markets also desirable.
Third level qualification with a strong quantitative/financial/economics base. The successful candidate will have 2/3 years' experience specifically in Trading, however it is important that the successful candidate will have other work experience in Energy or a related field to ensure that they meet the requirements of the role.