Energy Procurement Manager

Responsibilities:

• Assists with ACES in development of an annual hedge plan and execution strategy, including a congestion mitigation strategy using FTRs and/or OTC power swaps.  Monitors power supply and congestion strategies to ensure that hedges are executed in compliance with the annual plan, or if expectations are warranted, that proper approvals are in place, and that steps are taken to mitigate he congestion risk.  Documents, processes exceptions and communicates any deviation from the hedge plan and/or congestion strategy to Vice President, Rates and Energy Procurement and to SMECO executive management.  Ensures proper approval for purchasing power supply requirements and monitors the progress on fulfillment of the TRF.
• Develops in conjunction with ACES, SMECO's annual power supply budget for department financial planning and for PSC rate change filings.  Works with the Vice President, Rates and Energy Procurement to provide regular updates, including formal presentations, to the Power Supply Committee and BROC on SMECO's portfolio position including the latest changes/additions to supply, average costs compared to budget and percent of portfolio hedged.  Ensures compliance with Board policies related to power supply, including updating, as necessary the authority matrices to allow for alignment with current market pricing and activity.  Analyzes current and proposed power supply transactions, including forwards structured products, options, gas hedging, etc., for effect on the overall energy portfolio and reports the results and recommendations to Vice President, Energy and Procurement and to SMECO's Executive Staff.
• Works with ACES and Vice President, Rates and Energy Procurement to identify and evaluate various PJM initiatives for impact on power supply costs.  Helps interpret PJM operating guidelines, procedural requirements/enhancements and informs management of SMECO's role.  Monitors and participates in PJM activities as part of an interdepartmental team.
• Ensures data integrity by reviewing, requesting and reconciling various reports necessary for overseeing the energy portfolio.  Provides the quantitative group at ACES with updates to long-term load forecasts.  Produces and provides revisions to power supply fixed cost components internally and to ACES.  Provides information, analysis and expert witness testimony, when necessary, to support data requests from the Maryland Public Service Commission regarding the managed energy portfolio and development of SOS value.
• Assists with evaluation and review of various execution strategies, including strategies for financial swaps, derivatives and natural gas hedges, for implications on SMECO's tax position and potential FAS133 and  Dodd-Frank and Volcker Rule issues.  Communicates and discusses findings and recommendations with the CFO and other SMECO management.  Reviews, analyzes and discusses the data and data model of the Purchased Power Cost Adjustment (PPCA) to ensure an accurate PPCA factor.  Provides testimony at the PSC for the annual PPCA audit.
• Assists with monitoring Maryland PSC and legislative activity associated with renewable energy standards and ensures that the energy portfolio includes renewable energy credits to comply with the standards of the state.  Reviews renewable energy credit contracts for market purchases and long term transactions.  Provides necessary information to the Financial Services department to use in preparing annual compliance reports for this program.  Manages SMECO uploads of monthly credits to PJM tracking system.
• Participates in preparation of annual cost of service studies, financial forecasts, and load forecasts.  Develops and reports results and analysis to Vice President, Rates and Energy Procurement and SMECO executive management.  Manages preparation of Stand Offer Service rate filings.  Assists in preparation of transmission and distribution rate filings including data collection, cost allocation and rate design, and providing testimony.
• Reviews/approves Curtailment Service Provider registrations in PJM's eLRS system; registers SMECO's capacity bids in PJM eRPM and eLRS systems.  Prepares annual PJM documents required for Energy Efficiency and Demand Response participation in PJM RPM capacity markets.
• Prepares short-term load forecasts and backcast information for daily portfolio management with ACES and handles daily load reporting to PJM.  Manages support for the short-term load forecasting application and the vendor relationship.
• Provides backup to the Energy Accounting and Credit Manager for month-end portfolio accounting and reporting requirements.  Assists as necessary the Energy Tech group on cost/benefits and other required studies and develops rate filings for conservation and energy efficiency factors.

Required Skill:

Master's degree in an engineering, accounting or business discipline

Required Experience:

Minimum seven years progressive experience in the operation, control or accounting of electric utility systems.  Experience with wholesale energy markets required, including, but not limited to, risk management, ISO/RTO experience with knowledge of accounting procedures and relative computer applications.  The position requires daily interaction with the Energy Accounting and Credit Manager and overlapping knowledge of the duties and responsibilities of the Energy Accounting and Credit Manager.