Perform engineering, analytical, and economic studies on overall market performance, efficiency, behaviors, and the impact of market rules. Analyze and provide support for evaluations of market structures, outcomes, and the periodic reporting of market status and results. Assess the effects that modeling decisions, market algorithms, and software implementation have on market outcomes and the ability of MISO to accurately follow tariff requirements. Develop methods and systems for evaluating effects that existing processes have on market efficiency and prices. Evaluate deficiencies and improvement opportunities to foster economic and reliable system and market operation and planning. Develop improvements to the market processes that are hindering the achievement of market efficiency. Conduct analysis and testing on proposed modifications to existing or new design to improve the market efficiency. Ensure to accurately follow Tariff requirements in the processes. Communicate analysis results and new designs to internal groups and stakeholders to garner support and to support business decision making.
ESSENTIAL JOB FUNCTIONS
- Perform engineering, statistical and economic analysis on market operations, participant activities, pricing, demand-supply discrepancies, market failure, market anomalies and market design.
- Develop economic, operating and engineering assumptions.
- Perform market analysis, including power market/operation simulations.
- Produce periodic reports on market results, trends and statistics.
- Apply power engineering concepts and theories to evaluate and recommend multiple courses of action.
- Examine existing routine data within area of responsibility in which results are predictable.
- Evaluate low risk problems to identify solutions or alternative outcomes.
- Apply basic power engineering concepts to accomplish work and recommend courses of action to decision makers
- Maintain compliance with market rules and business practices.
- Support and serve on internal and external committees, task forces, and working groups.
- Compliance with all processes, procedures, and standards applicable to the position including (but not limited to): SSAE16 (Statement on Standards for Attestation Engagements No. 16), CIP (Critical Infrastructure Protection), Change Management, Tariff (Open Access Transmission, Energy and Operating Reserve Markets Tariff), FERC (Federal Energy Regulatory Commission), NERC (North American Electric Reliability Corporation), U.S. Department of Homeland Security, and NAESB (North American Energy Standards Board).
- Bachelor’s Degree in Electrical Engineering, Electrical Engineering Technology, or related technical field required
- One year experience in the electric power or energy sector in the areas of system operations, operation engineering, market analysis, economic modeling, system planning/development.
- Principles, practices, and administration of Electricity Markets
- Principles and economics of transmission/generation construction and system operations
- Security Constrained Unit Commitment and Economic dispatch
- Optimization algorithms
- LMP/FTR market dynamics
- Fuel and power market dynamics
- Applied economic and statistical principles
- Energy Markets Tariff and industry regulations
- Software design
- Microsoft Office Suite
- Power engineering/analytical tools including PSSe, Promod IV, PowerWorld, SAS.
- Develop mathematical models of engineering and economic processes
- Power system modeling and simulations
- Perform quantitative analysis
- Strong analytical and problem-solving skills
- Project management theory and practice
- Software development techniques
- Commitment to customer service excellence
- Excellent communication and listening skills
- Utilize company policies appropriately
- Foster teamwork and collaboration
- Perform quantitative analysis
- Integrate routine data from multiple sources
- Apply and adapt practices and techniques to a variety of projects
- Establish and maintain effective relationships with employees and the general public
- Present facts and recommendations effectively in verbal and written form
- Time management
- Multitask, meet deadlines and adapt to changing and evolving work environment priorities and demands in a fast paced environment
- Continuous Learning
- Customer Focus
- Value Focused
- Work Ethic
Midwest ISO - 9 months ago