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Full-Time

Power Portfolio Manager

Confirmed live in the last 24 hours

Octopus Energy

Octopus Energy

1,001-5,000 employees

Provides 100% renewable electricity solutions

Energy

Senior

Houston, TX, USA

Position requires onsite presence in Houston, TX.

Category
Financial Planning and Analysis (FP&A)
Finance & Banking
Required Skills
Python
Communications
Management
SQL
Requirements
  • Minimum 5 years of experience working in ERCOT markets
  • Bachelor’s degree or higher in a quantitative field such as Engineering, Mathematics or Statistics
  • Proficiency in Python and SQL is necessary
  • Experience managing and reporting on financial risk
  • Strong analytical skills coupled with an ability to think strategically
  • Excellent verbal and written communication skills
  • Flexibility to grow and adapt as the business grows
  • Able to challenge with empathy and support as required at times as we develop the business
  • Comfortable with some ambiguity (our world is changing fast)
Responsibilities
  • Responsible for retail supply management activities in ERCOT power market as well as risk management, and retail contract pricing driving the gross margins associated with our retail power business located in the ERCOT market
  • Identify long and short-term price and volume risk exposures inherent to the retail power business
  • Monitor and manage shaping risk of the retail load portfolio and optimize utilization of DSR program to help manage risk
  • Execute bilateral hedges, day-ahead demand bid schedules, and utilize non-standard instruments to cover risk and load for the retail book
  • Monitor and formulate forward price curves for all power cost components and continually monitor and adjust shaping assumptions to produce retail pricing at expected gross margin
  • Provide insight to senior management into the drivers of the company’s gross margin from forecast through settlement
  • Produce reports related to the company’s open position and MTM exposure, and VaR under a range of outlooks
  • Expand supplier relationships to maximize market coverage and trading liquidity
  • Take ownership of risk management policy, suggest amendments, and ensure compliance with all approved risk limits with close monitoring of position and mark-to-market reports
  • Develop and recommend clear procurement strategies to key stakeholders (both within Octopus Energy US and the wider Octopus Energy group) using data-driven analysis
  • Continuously challenge processes and deliver improvement/automation, or spec improvements/automation for delivery by the Tech team
  • Make proposals on generation, flexibility, or DSR initiatives that will support risk management and innovative ways to deliver genuine renewable supply

Octopus Energy provides 100% renewable electricity sourced from solar, wind, and water, offering smart tariffs for smart meters, including intelligent electric vehicle charging and off-peak electricity options. The company is dedicated to advancing transformative technologies to drive renewable energy adoption and reduce global dependence on fossil fuels.

Company Stage

Private

Total Funding

$2.5B

Headquarters

London, United Kingdom

Founded

2016

Growth & Insights
Headcount

6 month growth

16%

1 year growth

-2%

2 year growth

40%
Simplify Jobs

Simplify's Take

What believers are saying

  • Octopus Energy's rapid growth and valuation increase to $9 billion reflect strong investor confidence and market leadership.
  • The company's initiatives in green technology and renewable energy investments offer employees the chance to work on cutting-edge, impactful projects.
  • Partnerships with global entities like Energisa and Tech Nation provide opportunities for international collaboration and knowledge exchange.

What critics are saying

  • The energy sector's volatility, as seen with the Bulb Energy acquisition, could pose financial risks despite current successes.
  • Rapid expansion and numerous partnerships may strain resources and operational capacity, potentially impacting service quality.

What makes Octopus Energy unique

  • Octopus Energy leverages its proprietary Kraken technology platform to optimize energy usage and integrate renewable assets, setting it apart from traditional energy providers.
  • The company's focus on innovative green solutions, such as the 'Zero Bills' homes and electric aircraft charging, demonstrates a commitment to sustainability that few competitors match.
  • Strategic partnerships and acquisitions, like the takeover of Bulb Energy and collaboration with Energisa, expand Octopus Energy's global footprint and influence.

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