Calpine Corporation is America's largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Its fleet of 76 power plants in operation and one under construction represents nearly 26,000 megawatts of generation capacity. Through wholesale power operations and its retail businesses, Calpine serves customers in 22 states, Canada and Mexico. Its clean, efficient, modern and flexible fleet uses advanced technologies to generate power in a low-carbon and environmentally responsible manner.

The company was established on the premise that a strong commitment to the environment is inextricably linked to excellence in power generation and corporate responsibility. Since its founding in 1984, Calpine has led the power industry in its unwavering commitment to environmental stewardship. In addition, its renewable geothermal plants use steam generated deep below the earth's surface to produce clean, renewable electricity.

**** Not fully remote -- must work in the office 3 days per week and remote 2 days

Job Summary (includes but is not limited to the following, other duties may be assigned)

The Regional RPS Market Specialist is primarily responsible for supporting the Regional RPS Portfolio Manager in managing the Retail Platform's Renewable Portfolio Standard / Renewable Energy Credit (REC) portfolio arising from Retail's (e.g., Champion Energy's, North American Power's, and Calpine Energy Solutions) sale of retail power and corresponding compliance and voluntary positions across the deregulated portfolio.

The Regional RPS Market Specialist must have a working understanding of all state-mandated Renewable Portfolio Standards in the CA/OR/TX with a strong commercial mindset and ability to communicate across the retail organization. Furthermore, the Regional RPS Market Specialist is responsible for reconciling the RPS portfolio in annual compliance filings and building tools to manage positions and reporting related to both compliance and voluntary RECs/RPS. He or she will also work collaboratively with the respective Retail Structuring Desk(s) to articulate price and market design changes and to liaise with Sales on product design and innovation.

This position will interface with the Commercial, Legal & Regulatory Team(s) on a broad range of key issues related to retail and wholesale commodity transactions, sales, reporting, regulatory changes, etc. He or she will possess a broad understanding of the electric commodity business sector, with emphasis on the environmental segments, Regulatory, voluntary renewable products, and trading.

Job Responsibilities

Price Curves and Product Support

• Support the Regional RPS Portfolio Manager in managing/updating competitive regional price curves for each Calpine price/product component(s) when needed.
• Articulate meaningful price and market change updates weekly to Structuring and Sales teams.
• Assess / explore regional markets and work with commercial team to design and implement new Products and Paper accordingly.
• Serve as the Subject Matter Expert ("SME") for RPS/REC related products with the Commercial and Sales team(s).
• Work with Commodity Structuring Director and Sales Leadership to develop new or enhance existing regional product suite, lead sales initiatives, execute strategies and deliver key benefits to Sales (i.e., articulate Sales Benefits for New Products).
• Train/educate Sales team on how to pitch certain products and value propositions (e.g., converting RPS pass-thru customers to fixed-price) and create/construct targeted marketing material to support messaging as needed.

Portfolio & Position Management Support

Support the Regional RPS Portfolio Manager in tracking regional wholesale and retail positions.

• Build out new curves (if necessary) and work with Intelometry to ensure RPS curves are being exported into pricing as intended and reflected in Retail addendum appropriately.
• Collaborate with Risk and Corporate Accounting as necessary to develop and enhance RPS/REC positions and reporting framework.
• Actively track and reconcile price curves against settlement data to validate price curves and capture/identify new revised changes to existing curve assumptions.
• Responsible for supporting the RPS Manager in the optimization of Calpine Retail's forward wholesale supply portfolio.
• Responsible for timely and accurate completion of wholesale/retail deal tickets when applicable as directed.
• Serve as back-up to the Regional RPS Portfolio Manager as needed.

Renewable Supply & Origination

• Collaborate with Sustainability team, Structuring, Sales, and Legal to support wholesale/retail contract creation and pricing evaluation of renewable projects in the West, Texas, Midwest, East, and Northeast markets.
• Compile retail customer load forecasts and compliance obligation projections.
• Identify supply obligations and constraints for new product development.
• Work with the Solutions wholesale desk to make sure wholesale renewable supply is booked correctly.

Compliance & Market Settlements

• Monitor and understand costs associated with positions within the market(s) and ensure internal processes properly account for those costs (Pricing, Risk, Billing and Accounting).
• Work with Regional RPS Portfolio Manager and Regulatory group(s) to make timely and accurate RPS compliance filings in each state and resolve any issues as needed.
• Work with Risk, Mid-office and Accounting to report P&L as soon as practical after compliance filings are made to ensure wholesale RPS transactions are invoiced, tracked and accounted for appropriately.
• Shadow settle wholesale and retail RPS invoices and identify any non-routine charges or unique agreements and develop or enhance processes for systematic reconciliation of the RPS portfolio.
• Resolve invoice reconciliation discrepancies with external counterparties and internal scheduling and trading teams; ensure accuracy of activities recorded in trading system.
• Understand settlement rules, timelines and supporting files, validate and reconcile the ISO/RTO market settlement statement, invoices and settlement detail to ensure that new and revised charges are configured in accordance with published Business Practice Manuals and Tariffs.

Regulatory

• Participate in ISO/Regulatory calls as necessary to monitor and understand market changes.
• Actively monitor third-party regulatory emails, ISO websites and industry contacts to proactively identify proposed changes to regulatory policy which may impact Calpine supply or price curves.
• Collaborate with Regional RPS Portfolio Manager to direct Regulatory Team on where to focus regulatory efforts related to RPS.
• Provide timely and accurate information to both external and internal customers.

Job Requirements

• Math, Business, Finance, Engineering degree required or equivalent work experience
• 4-6 years of structuring large integrated electric commodity transactions.
• Strong leadership and communications skills, independent thinker with commercial savvy.
• Must demonstrate strong quantitative, analytical and problem-solving skills with an emphasis on attention to detail and approachability throughout the organization.
• Must have a working knowledge of regional compliance and voluntary REC/RPS products from a pricing/trading/settlements/reconciliation and regulatory perspective.
• Broad understanding of financial and physical energy trading markets, particularly electricity markets, is required. Experience in CAISO, Oregon, ERCOT, PJM, ISO-NE and NYISO is required.
• Demonstrated understanding of derivatives, real-options, basic trading strategies and products in the electric and gas commodity business segment.
• Knowledge of key regional market drivers from electric, natural gas and renewable fundamentals.
• Ability to manage multiple highly complex deal assignments and meet deadlines on a timely basis with a high degree of accuracy.
• Excellent computer skills with an emphasis on CQG, Excel, Word and other trading related platforms.

Salary Information - Position eligible for annual bonus.

Salary range - $79,180 - $116,789

Additional Calpine Information

• Equal Opportunity Employer of Minorities, Females, Protected Veterans, and Individuals with Disabilities.
• Calpine is committed to Equal Employment Opportunity and providing reasonable accommodations to applicants with physical and/or mental disabilities. If you are interested in applying for employment and need special assistance or an accommodation to use our website or to apply for a position, please send an e-mail with your request to . Determination on requests for reasonable accommodation are made on case-by-case basis.

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