Markets and Optimization Sr. Specialist - Taguig - SN Aboitiz Power Group

Paglalarawan

The responsibilities associated with the position include:

Enhancement and development of relevant market models (E.g. Energy and Ancillary Services markets in Luzon, Visayas, and the Mindanao grid) in simulation tools for the fundamental model focusing on, among others:

• Understanding the hydro-thermal power plant optimization and maintaining updated plant parameters capturing all necessary operational constraints, that will be relevant to forecast market prices, such as: Hydro plant configuration (unit capacity, efficiency, outage rates, inflow data, hydro plant cascade modeling, etc.)
• Understanding the co-optimized market for energy and reserves with familiarization on the capability and behavior of the participants in both markets and, harmonizing the available tools with the local market operations' rules and regulations.
• Incorporate generation capacity expansion with an assessment on the likely commissioning schedule, bid behavior, and availability profile.
• Preparation of market models for expansion projects, greenfield development, mergers and acquisitions: Project plant design modeling, optimization, and sensitivity testing.
• Understanding the transmission and interconnection constraints, with the most appropriate representation in the market models.

Perform regular back-testing and calibration of the fundamental market model.

• Gather, validate and process all relevant historical market and plant data such as actual market prices, plant generation, bid offers, fuel prices, reservoir and other hydrological parameters (E.g. Elevation, bathymetric data, inflow, spillage, irrigation requirements, flood control), participant's contractual obligations in energy & AS, and other operational constraints and condition.
• Provide a fully updated market model with all relevant participants with their respective parameters and configuration.
• Provide a full market model calibration with the most accurate and highly correlated simulated price results versus actual prices.
• Provide the most accurate and highly correlated simulated plant generation versus actual plant generation.
• Model calibration through updates of the fundamental factors affecting the simulation.

Provide a comprehensive and updated long-term market outlook on the energy, ancillary services, and any other relevant spot markets in the power industry. This shall cover the significant drivers affecting market prices including but not limited to the following:

• Progress monitoring and assessment on the markets' structural and regulatory changes.
• Power consumption behavior and forecast in the medium to long term.
• Projected portfolio of participants in the spot, ancillary services, and the RE markets with the development of existing and new technologies/participants particularly on their costs (LCOE), respective technological advancements, and operational and bid behavior.
• Prepare sensitivities capturing scenarios on the potential landscape of the market.

Development and maintenance of methodologies and tools necessary for revenue forecasting, corporate strategic planning, financial valuation of projects, expansions, mergers and acquisitions, refinancing activities, and refurbishments.

• Develop and maintain the fundamental and probabilistic models to support the short to long-term revenue forecasting activities.
• Develop and maintain the tools for the reserve market simulations to support the revenue projections and strategy recommendations.
• Develop and maintain probabilistic model/s for the water value calculation and production forecasts in coordination with the Production Planning team to ensure that the latest operational constraints are considered.
• Conduct regular maintenance and back-testing of the models to reflect the hydro plant system updates including Plant/Unit availability schedule/deration/efficiency, updated reservoir elevation status of reservoirs, incorporation of updated inflow forecast for all hydro plants, irrigation requirements, flood control, rule curve, bathymetric and other operational constraints.

Proper data handling and process documentation:

• Data storage and documentation of all relevant market data, hydrological and plant data required to perform these tasks.
• Preparation and update of processes and procedures to perform tasks.
• Market data processing and automation, and process improvement activities.

Position Requirements:

Skills:

• Market Analysis, Statistical and analytical skills
• Corporate Planning / Financial Analysis
• Optimization, Market Simulation Tools, Forecasting models (SDDP/PLEXOS/Crystal Ball/Monte Carlo simulations)
• Capacity for research work: Markets, Plant technological advancements and cost, Contracts, Policies, Rules, and Regulations (including External Relations/Customer Orientation)
• Knowledge of Wholesale Electricity Spot Market and Ancillary Services Operations
• Ability to understand and absorb broad business/regulatory issues, finance, and mathematical concepts
• Ability to execute under pressure and under tight time schedules
• Knowledge in Google Suite applications, Lean Six Sigma, and Data Science
• Excellent oral and written communication skills
• Preference for candidates with substantial working knowledge in: hydroelectric, solar, and energy storage power plant operations; electric power system planning and operations and analysis; and programming.

Experience:

• At least five (5) years of experience in the Philippine Electricity Market
• Highly knowledgeable in Ancillary Services
• Has experience in market analysis, market modelling, price and revenue forecasting

Education:

• Degree in Engineering, EcoMathematics, Statistics, or Applied Sciences
• Master's Degree in Engineering, Energy Economics or any relevant degree
• Experience or knowledge in financial planning is preferred.
• PhD in any relevant discipline is an advantage