Associate, CRR & FTR Trading, Market Optimization & Trading

What The Role Is

Reporting to the Senior Manager, Market Optimization & Trading, the Associate, CRR & FTR Trading supports the development, execution, and optimization of Clearway’s congestion management strategies through participation in ERCOT and CAISO’s Congestion Revenue Rights (CRR) and Day-Ahead markets and the PJM Financial Transmission Right (FTR). This role focuses on analyzing and monetizing congestion opportunities while supporting management of the company’s nodal risk and basis exposure across its generation portfolio.  This role will also contribute to hedging and risk management analysis across other parts of the portfolio. The position requires strong analytical, modeling, and risk management skills, along with a developing trading skill set, to inform commercial decisions and support portfolio optimization within a rapidly expanding renewables platform.

If you don’t meet 100% of the qualifications but see yourself contributing, please submit your resume.

What You'll Be Doing

CRR / FTR Trading & Position Management

• Support the development and execution of CRR, FTR, and congestion trading strategies to hedge and optimize portfolio congestion risk across ERCOT, CAISO, and PJM.
• Analyze historical and forecasted congestion patterns to identify trading opportunities in monthly and annual CRR auctions.
• Help manage portfolio-level exposure to nodal price risk through CRR / FTR acquisitions, sales, and virtual positions, under the guidance of senior team members.
• Support the Real-Time and Day-Ahead MOT team with congestion insights and locational pricing forecasts.
• Collaborate with Market Fundamentals, Asset Management, and Origination to support alignment of CRR strategies with commercial hedging and offtake structures.
• Monitor and report on project-level financial performance tied to congestion costs, basis exposure, and hedge efficiency.
• Maintain dashboards and reporting tools to track CRR positions, portfolio exposure, and P&L attribution.

Analytics & Modeling

• Utilize power flow and production cost modeling software (e.g., Dayzer and PROMOD) to help forecast congestion and simulate transmission constraints.
• Coordinate with Fundamentals and Analytics teams to support modeling of nodal prices, transmission outages, and topology changes.
• Leverage programming tools such as Python, R, SQL, and Power BI to automate congestion analytics and support scenario back-testing.
• Research regulatory filings, transmission plans, and outage schedules to anticipate market shifts.

Market Fundamentals

• Analyze ERCOT, PJM, and CAISO’s transmission topology, load growth, and renewable generation trends.
• Monitor weather, outage, and project interconnection developments that impact congestion patterns.
• Communicate congestion forecasts and market insights to internal stakeholders, including trading desks and, with guidance, senior management.

Risk & Energy Market Strategy

• Support the development of portfolio risk limits and maintain portfolio-level risk metrics accounting for cross-market correlations in energy, congestion, and REC prices.
• Review forward market price volatility curves and correlation assumptions used in stochastic risk modeling.
• Assist with trading strategy performance benchmarking and the establishment of risk limits.
• Apply portfolio optimization techniques to inform hedge strategy decisions while balancing the risk-adjusted revenue of Clearway’s renewable assets. Hedging strategies include DART optimization, CRR/FTRs, term hedge, and PPA transactions. Perform daily and weekly portfolio assessments to help identify opportunities to maximize portfolio profit and identify risks.

Governance, Compliance & Risk

• Help ensure CRR/FTR trading activities comply with corporate and project-level risk policies, market rules, and Market protocols. Work closely with Risk, Accounting, and Settlements to reconcile positions, P&L, and collateral management.
• Maintain compliance documentation and participate in periodic audits.

Collaboration & Commercial Support

• Partner with Market Fundamentals, Origination, Development, and Asset Management teams to provide CRR/FTR and congestion analysis for project siting and contracting decisions.
• Provide market intelligence and analytical support for due diligence on M&A transactions, new developments, and repower evaluations.

What You'll Bring

• Bachelor’s degree in Engineering, Economics, Finance, or related field.
• 2-5 years of relevant experience, with at least 2+ years directly in power markets.
• Exposure to ERCOT and CAISO CRR auction tools and to Dayzer, UPLAN, or similar transmission models.
• Prior experience in energy trading, asset optimization, or market analytics required.
• Ability to build or contribute to power fundamental models for pricing, load, generation, flow, and outages using various methodologies.
• Working knowledge of ERCOT, CAISO, and PJM market design, CRR/FTR auction processes, transmission planning, and nodal pricing. Dayzer experience is a plus.
• Strong quantitative, analytical, and problem-solving abilities.
• Clear communication skills to translate technical results into commercial insights.
• Proficiency with Excel, PowerPoint, and Power BI.
• Familiarity with congestion and risk management strategies for renewable and storage assets.
• Working knowledge of predictive modeling using mathematical and statistical methods to identify, analyze, and mitigate energy market risks, with a foundational understanding of option valuation and Greeks.

What Would Be Nice

• Advanced degree preferred
• Proficiency in Python, R, or SQL preferred
• Exposure to quantitative libraries, stochastic calculus, or option models for deal valuation is a plus.
• Familiarity with battery, wind, or solar congestion profiles is a plus.

No visa sponsorship or any kind of sponsorship for employment authorization is available for this role, now or in the future.

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