Economist

The New York Independent System Operator (NYISO) manages the efficient flow of electricity on more than 11,000 circuit-miles of high-voltage transmission lines, dispatching power from hundreds of generating units across the state.

New York Independent System Operator in Rensselaer, NY seeks an Economist, Market Mitigation & Analysis to analyze the design, structure, behavior, and outcomes in the bulk electric power markets administered by the NYISO to ensure that market rules, market signals, and protective measures promote workably competitive solutions.

In conjunction with other staff, the Economist, Market Mitigation & Analysis will analyze NYISO markets and proposed market design changes to identify potential market design flaws. These analyses focus on market outcomes as they relate to various systems conditions, market participant behavior, and operations.

Specifically, the Economist, Market Mitigation & Analysis will perform the following duties:

- Present market analyses internally and in the NYISO stakeholder process.

- Serve as a Market Mitigation and Analysis staff representative on economic issues internally and externally as they affect the design of the NYISO markets.

- Interpret economic and statistical data in areas related to NYISO markets and related markets (e.g., primary fuels, competitive offering behavior, investments in system expansion).

- In conjunction with other staff, evaluate economic decisions made by market participants and the effects on the NYISO markets in the light of market participant-specific circumstances.

- Develop methods and procedures for collecting/processing and reporting data internally and to the market.

- Develop techniques to analyze economic data relevant to NYISO markets.

- Review and analyze economic data in order to prepare reports detailing results of investigation including graphic illustrations of findings and keep the Managers abreast of economic changes.

- Produce reports and memos for NYISO senior management, market participants, and regulators.

- Formulate recommendations, policies or plans to aid in market interpretation or solution of economic problems.

- Prepare affidavits related to economic issues related to NYISO markets in support of NYISO filings.

Specific to the Capacity Markets:

- Utilize economic expertise to solve problems for buyer-side mitigation analyses, physical withholding determinations, and the demand curve reset.

- Conduct research on issues pertaining economics, financing, and accounting. Make recommendations based on sound theoretical research and vetting internally and with the external Market Monitoring Unit.

- Summarize findings in written memos, and/or communicate them verbally to members of NYISO management. Support the research, drafting, and review of materials in regulatory and litigation proceedings.

Specific to the Energy Markets:

- Confirm whether pre-screened conduct and impact cases require follow-up or can be closed. Train and guide Analysts on MMA processes; review their work for accuracy, completeness, and for anomalies unforeseen by pre-screening processes/software. Update pre-screening processes/software where appropriate (subject to manager approval).

- Utilize economic expertise to solve potential mitigation issues related to market participant bidding behavior including economic and physical withholding, uneconomic production, virtual trading, and under-forecasting load.

- Conduct research on issues pertaining to all NYISO markets including energy, ancillary services, loads, transactions, virtual trading, and Transmission Congestion Contracts (TCCs).

- Conduct portfolio analyses illustrating how market participants integrate throughout NYISO’s markets and the markets of neighboring control areas. Make determinations on competitiveness of MPs’ overall strategies.

Requirements:

Bachelor’s Degree in Commerce or related field.

The successful candidate must have 1 year of experience as working as a financial or economics analyst. Experience in the following software is required:

- Python

- Beautiful Soup

- Selenium

- Pandas

- Microsoft Excel

Salary Amount/Range $63,544 to $116,770.56.

For more details and to apply: https://www.nyiso.com/careers

Salary Range

$63,544 - $116,770.56 USD