PJM Trader
PJM Congestion Trader
Location: Houston, TX
About the Role
We are seeking a highly motivated PJM Congestion Trader to join a growing power trading team in Houston. This individual will be responsible for identifying, analyzing, and executing congestion trading opportunities across the PJM market, with a focus on maximizing P&L through virtuals, FTRs, and congestion-related strategies. The ideal candidate will have approximately 5+ years of experience in power markets and strong expertise using Dayzer for market analysis and trade development.
Key Responsibilities
- Develop and execute congestion trading strategies across PJM markets.
- Analyze transmission constraints, outage schedules, generation dispatch, load forecasts, and market fundamentals to identify profitable opportunities.
- Utilize Dayzer to perform nodal analysis, forecast congestion patterns, and evaluate transmission system impacts.
- Participate in FTR auctions and assess auction opportunities relative to expected congestion outcomes.
- Monitor real-time and day-ahead market activity, adjusting positions as market conditions evolve.
- Build and maintain analytical models to support congestion forecasting and risk management.
- Collaborate with quantitative analysts, traders, and market fundamentals teams to improve forecasting accuracy.
- Track trading performance and communicate market views, trade rationale, and risk exposures to management.
- Stay current on PJM market rule changes, transmission projects, and regulatory developments that may impact trading strategies.
Qualifications
- Bachelor's degree in Finance, Economics, Engineering, Mathematics, Energy Management, or a related field.
- Minimum 5 years of experience trading or analyzing congestion within PJM power markets.
- Demonstrated success generating P&L through congestion trading, FTRs, virtuals, or related power market products.
- Advanced proficiency with Dayzer, including transmission, outage, and congestion analysis.
- Strong understanding of PJM market structure, nodal pricing, transmission systems, and power flow dynamics.
- Experience with data analysis tools such as SQL, Python, Tableau, or Excel.
- Excellent quantitative, analytical, and risk management skills.
- Strong communication and teamwork abilities within a fast-paced trading environment.
Preferred Qualifications
- Experience managing a proprietary congestion trading book.
- Knowledge of neighboring ISOs/RTOs, including ERCOT, MISO, or SPP.
- Ability to automate data workflows and develop proprietary market analytics.
Compensation
- Competitive base salary and discretionary bonus structure, commensurate with experience and demonstrated trading performance.
- Comprehensive benefits package including medical, dental, vision, 401(k), and other employee benefits.
This position offers the opportunity to play a key role in a high-performing power trading organization with direct exposure to PJM markets and significant growth potential.
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