Market Development Analyst (Hybrid)

Company Description

The California Independent System Operator (ISO) manages the flow of electricity across the high-voltage, long-distance power lines that make up 80 percent of California's power grid. We safeguard the economy and well-being of 30 million Californians by operating the grid reliably 24/7.

As the impartial grid operator, the California ISO opens access to the wholesale power market that is designed to diversify resources and lower prices. It also grants equal access to 25,865 circuit-miles of power lines and reduces barriers to diverse resources competing to bring power to customers.

The California ISO's function is often compared to that of air traffic controllers. It would be grossly unfair for air traffic controllers to represent one airline and profit from allowing that company's planes to go through before others. In the same way, the California ISO operates independently—managing the electron traffic on a power grid we do not own—making sure electricity is safely delivered to utilities and consumers on time and reliably.

The California ISO is committed to the health, safety, and work/life integration of its employees, and is proud to offer flexible work arrangements. This position is available in a hybrid schedule.

Relocation assistance is available.

Job Description

Under the general direction of the Manager, responsible for the advanced analytics needed to support the ISO’s data-driven policy decisions and development of market design. Analyzes large sets of energy market data, identifying trends and patterns, providing insights to support business decisions. Participates in market design and development efforts to ensure policy and software business rules and processes provide intended solutions. Uses optimization principles and techniques to assess market solutions and model formulations. Uses data science techniques for predictive and descriptive analytics of energy market, reliability services, pricing, and evaluates the performance of energy market design to support the real – time operations and market operations for the California ISO

PRINCIPAL DUTIES AND RESPONSIBILITIES  

• Develops data science algorithms for predictive analytics and supports the successful development of market design and policies. Performs descriptive analytics for the energy market including day-ahead and real-time, energy and reliability services, congestion revenue rights as well as operational performance. Develops and implements business solutions such as new market products and/or new market constraints and procedures. Works on moderately complex engineering problems and provides engineering support in the market software as needed to determine optimality of market solutions.
   
• Supports the production activities for default energy bid (DEB) calculations, commitment costs, including complex analysis of all components of the default bids and commitment costs, to ensure the accuracy of the inputs and the calculation of the bids, and its impact on the market outcomes. Leverages engineering principles, production cost modeling, and generation simulation to evaluate market participant requests for adjustments to major maintenance adders, while analyzing resource operating characteristics, market operations, and price volatility. Utilizes complex mathematical optimization models to compute opportunity costs for gas-based units, ensuring adherence to ISO Tariff regulations and business practice manuals. Supports the evaluation and negotiation of custom DEBs and opportunity costs, balancing analytical precision with market compliance to optimize overall market efficiency and operational performance.
   
• Monitors, analyzes and reports on market results, its efficiency and effectiveness. Monitors and detects emerging market trends, such as prices and cost spikes, and identify root causes of market design gaps. May develop and implement long-term market metrics and identify systemic market issues. Develops and presents reports; builds interactive dashboards, and visualizations to communicate insights and trends.
   
• Participates in cross functional teams as assigned. Collaborates with market participants, regulators and other stakeholders to develop analytics to support business decisions and market design. Provides technical, analytical and reporting support to internal business units and external entities.
   
• Supports the development of new data-driven products and services related to energy markets. Stays up-to-date with the latest developments in energy markets, data science, and technology.

Qualifications

Level of Education and Discipline:

• Bachelor's degree (BA, BS) or equivalent education, training or experience in Electrical Engineering, Data Science, Computer Science, Statistics, Mathematics, Economics or related field. Master Degree preferred.

Amount of Experience:

• Equivalent years of education and training, plus two (2) or more years related experience.

Type of Experience

• Strong analytical and quantitative skills, with experience in data science.
• Knowledge of energy markets, energy policies, and regulations.
• Exposure and experience with applied optimization principles and techniques, power system operations and market design.
• Experience with programming languages such as R, Python, or SQL.
• Familiarity with data visualization tools and techniques.

Additional Skills and Abilities:

• Strong verbal and written communication and documentation skills required, with a demonstrated attention to detail.  Ability to use deductive reasoning and analytical thinking with sound judgment and decision-making skills.  Strong interpersonal and conflict resolution skills are also essential.  Must be self-starting and willing and able to work independently in a dynamic corporate organization under pressure of tight deadlines and aggressive expectations.  Problem solving skills with the ability to influence others without direct authority. Must be able to work effectively in a team environment as facilitator and team member.  Must be proficient with Microsoft Office Suite. 
   
• Strong mathematical analytical skills are required, including the ability to communicate effectively complex technical and mathematical materials and concepts.

Additional Information

The pay range for the Market Development Analyst position is $45.10 - $63.15 per hour.