Boston Energy Trading and Marketing (BETM) is a wholly-owned subsidiary of Mitsubishi Corporation, a global integrated business enterprise that develops and operates businesses across virtually every industry. Mitsubishi’s current activities have expanded far beyond its traditional trading operations to include investments and business management across the North American energy value chain.
Boston Energy Trading and Marketing provides asset management & optimization services to owners of generation and energy storage in North America, and wholesale energy to retail power & gas suppliers. Our proprietary traders cover competitive North American power and natural gas markets. BETM has been optimizing our customers’ generation assets for over 15 years. Our current organization has its roots in Citizens Power, dating back to 1989 when Citizens obtained the first FERC power marketing license and market-based-rate authorization. Mitsubishi’s Diamond Generating acquired BETM from NRG Energy in August 2018, and prior to 2014 BETM was known as Edison Mission Marketing and Trading. Mitsubishi provides BETM with investment-grade credit support for BETM’s commercial activities.
Reports to: Senior Vice President, Energy Trading & Analytics
Location: Boston, MA
Essential Duties & Responsibilities
- Generates profit in power and natural gas market through proprietary trading and/or asset optimization by taking independent, autonomous action that is supported by research that has been developed by proprietary models and through maintaining industry contacts and knowledge
- Serves as the company's primary interface to energy markets responsible for providing expert market information, opinions, and pricing for all areas of the company that require this information, and also for providing trade execution for all spot and term trades in the relevant market
- Assist in managing merchant risk exposure for BETM and DGC financial and physical power assets with development and execution of hedging plans with a variety of trading instruments
- Develops and maintains counter-party and broker relationships required to provide the company with maximum market coverage and market intelligence in the relevant term and market
- Works closely with Analytics Group, as well as independently, to develop and maintain the fundamental and market research and analysis tools required for effective trading and decision making
- Maintains up to date knowledge of industry regulations and potential changes that may affect the markets
- Adheres to all administrative and compliance standards and procedures as directed by Compliance, Risk Management and the Senior Vice President, Energy Trading.
Qualifications & Requirements Knowledge/Skills
- Proven track record of consistent profit generation
- Extensive spot and term trading experience in North American power (PJM, NYISO, ERCOT, WECC, etc.) and natural gas markets (NYMEX and regional) with forwards, swaps, options in directional and spread (time, basis, HRCO, Spark) products with ability to develop and successfully execute trading strategies
- Knowledge of the energy markets including but not limited to supply and demand balance, expert knowledge of power transmission and gas pipeline systems, physical power and gas movements, market regulations, and operations
- Knowledge of trading contracts and contractual obligations, and of derivative financial trading products including swaps, futures, and options
- Experience with Structured product pricing and deal management.
Technical/Functional
- Experience with trade capture and risk management systems
- Proficiency in Excel, Power Point & Other MS Office Applications is required. Practical experience with Python, R, MATLAB, SQL to retrieve, process and model data is a plus
Education/Training
- 5+ years of work experience in Energy Industry
- Bachelor’s Degree Required in Economics or quantitative hard science
- Master’s Degree Preferred in Economics or quantitative hard science.
Level, Title and/or Salary may be adjusted based on the applicant's experience or skills
