Senior Energy Trader

Xcel Energy

Xcel Energy

Denver, CO, USA
Posted on Tuesday, August 29, 2023

Are you looking for an exciting job where you can put your skills and talents to work at a company you can feel proud to be a part of? Do you want a workplace that will challenge you and offer you opportunities to learn and grow? A position at Xcel Energy could be just what you’re looking for.

Position Summary

Responsible for energy (electricity & cross-commodity) purchases and sales focused on balance-of-the-day to 24 months in advance to maximize Xcel Energy revenues and reduce system costs. Identifies and analyzes technical market factors and fundamental factors that affect market prices, system costs, basis, and availability of power supply and transmission. Profitably trades a combination of OTC forwards, OTC options, NYMEX products, and ISO products (as applicable) to generate trading margins for Xcel Energy proprietary. Provides leadership and training to trading staff. Key focus will be western bi-lateral markets (WECC) and CAISO/SPP.

Essential Responsibilities

  • Profitably engages in proprietary trading of physical and financial energy products. Must operate within defined risk parameters and products (per internal risk policy). Develops and implements trading strategies that capture inefficiencies of the market as a result of commodity volatility, pricing disparity, congestion and binding constraints.
  • Works closely with Origination in order to help develop structured energy products needed by Xcel Energy customers.
  • Manages Xcel Energy's electric system position through the use financial, physical, and structured trading products. Develops business relationships with other market participants that increase trading profitability. Negotiates trades which create increased margin, energy cost savings, and hedge risk to Xcel Energy stockholders and customers.
  • Works with Risk and Credit to administer credit risk management policies and ensure creditworthiness of potential customers and suppliers.
  • Provides leadership, mentoring and training to junior level staff.

Minimum Requirements

  • BS or BA, preferably with emphasis in marketing, business or technical studies.
  • Minimum of 5 years energy trading experience.
  • At least 3 years profitable trading experience in trading in one or more US power markets (e.g., ISO's or bi-lateral markets) to include physical and financial OTC instruments, NYMEX futures, and options.
  • Additional requirements are dependent upon the energy market to which the Senior Energy Trader is assigned.
  • Preference for individuals with experience in western bi-lateral markets (WECC), CAISO, and SPP.

As a leading combination electricity and natural gas energy company, Xcel Energy offers a comprehensive portfolio of energy-related products and services to 3.4 million electricity and 1.9 million natural gas customers across eight Western and Midwestern states. At Xcel Energy, we strive to be the preferred and trusted provider of the energy our customers need. If you’re ready to be a part of something big, we invite you to join our team.

All qualified applicants will receive consideration for employment without regard to age, race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Non-BargainingThe anticipated starting base pay for this position is: $129,000.00 to $182,999.00 per yearThis position may also be eligible for the following benefits and/or pay components: Pay - Annual Incentive Program, Medical/Pharmacy Plan, Dental, Vision, Life Insurance, Dependent Care Reimbursement Account, Health Care Reimbursement Account, Health Savings Account (HSA) (if enrolled in eligible health plan), Limited-Purpose FSA (if enrolled in eligible health plan and HSA), Transportation Reimbursement Account, Short-term disability (STD), Long-term disability (LTD), Employee Assistance Program (EAP), Fitness Center Reimbursement (if enrolled in eligible health plan), Tuition reimbursement, Transit programs, Employee recognition program, Pension, 401(k) plan, Paid time off (PTO), Holidays, Personal holidays, Volunteer Paid Time Off (VPTO) (full-time employees only), Parental Leave

Pay and benefit packages may vary based on position. Some employees are under collective bargaining agreements, which determine the benefits they will receive. If the information conflicts with the terms of the written plan documents governing the plan, the plan document will control. Benefit plans are subject to change and Xcel Energy has the right to end, suspend, or amend any of its plans, at any time, in whole or in part.

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Xcel Energy endeavors to make https://www.xcelenergy.com/ accessible to any and all users. If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact Xcel Energy Talent Acquisition at recruiting@xcelenergy.com. This contact information is for accommodation requests only and cannot be used to inquire about the status of applications.