Energy Trading Manager

Xcel Energy

Xcel Energy

Denver, CO, USA
Posted on Saturday, November 18, 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

Manages forward and real-time energy trading and hedging for Xcel regulated operating companies to ensure reliable system operations and to maximize margin opportunities for the proprietary trading group. Responsible for trading margins and aggressively identifying arbitrage opportunities, both in the physical and financial gas and power markets. Responsible for managing REC and emission allowance trading. Provides pricing support and forward markets for origination and purchased power. Responsible for ensuring strict compliance with the Corporate Risk Policy and the Standards of Conduct.

Essential Responsibilities
  • Provide direction, management and training to forward and real-time traders. Responsible for helping produce significant power and gas margins. Must mentor Associate traders and help to maximize trading opportunities in the short term markets. Generate and lead Sr. traders in long dated power and gas strategies to ensure positive P/L for the group. Identifies and communicates key market information with other employees in the trading organization. Works closely with the Director and the Manager of Origination to build solid hedging strategies for long term originated transactions as well as keeping timelines for execution on track and the management of physical curtailments of power transactions.
  • Directs forward and real-time traders in the identification of short-term physical and financial trading strategies. Directly responsible for generating significant proprietary and generation based trading margins. Directs the implementation of financial gas hedging of electric positions. Responsible for making sure all asks of the trade desk from the origination team are met in a timely fashion. Writes and submits CDAD's on behalf of Sr. traders for long term non-standard transactions.
  • Directs the forward and real-time traders to identify trading risks and opportunities through the analysis of technical and fundamental factors affecting market prices, including historical data mining and power flow simulation. Works with Generation team to ensure that deadlines are met for submitting TCR, and congestion revenues.
  • Keeps the Director up to speed on the markets, daily P/L, and risk factors associated with the trading desks positions. Directs the trading of emission allowances and RECs, both to manage the Company's physical positions and on a proprietary basis to generating trading margins. Keeps the trade floor compliance log in order and meets all deadlines for submissions both internally and externally to keep the business in compliance.
  • Represents Xcel Energy in various industry groups, develops working relationships with key trading counterparties. Other duties as assigned.

Minimum Requirements

Bachelor's degree in engineering, business, or related technical field is required. Must have 8+ years prior direct P/L responsibility, must have experience in the gas and electric markets. Must have 2+ years management experience in the electric markets. Experience trading and management of desk P/L in the MISO, SPP, PJM and WECC regional markets preferred.

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: $155,000.00 to $219,000.00 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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