Gas Trader
Requisition ID # 148376
Job Category: Energy Services / Trading
Job Level: Individual Contributor
Business Unit: Energy Policy & Procurement
Work Type: Hybrid
Job Location: Oakland
Department Overview
Core Gas Supply (CGS) is part of Energy Policy and Procurement and is responsible for providing natural gas to PG&E’s residential and small commercial customers. CGS has a diverse team of traders, schedulers, and analysts who are responsible for managing physical natural gas supply and financial price risk for PG&E’s Core customers. The trading team executes trading strategies and manages a geographically diverse portfolio of gas supply, pipeline transportation, gas storage, and engages in portfolio hedging to ensure reliable, economical gas supplies.
Position Summary
The Gas Trader is primarily a physical gas trading position within Core Gas Supply. The key responsibilities are to manage physical gas supplies, optimize transportation and storage assets, manage price risk, lower gas cost, and reliably meet Core customer demand. Start time is as early as 5 am and weekend coverage is rotated between both traders and schedulers.
Trading
Make daily assessments of the gas market relative to the CGS position. Make timely trading decisions necessary to manage supply and demand. Utilize transportation and storage assets to meet demand and lower customer cost. Collaboratively develop and execute short and long-term trading strategies. Negotiate and execute trades directly, through exchanges, brokers, and competitive solicitations. Record all transactions in compliance with internal and external policies and rules. Understand and comply with all PG&E risk management policies including trading and credit limits.
Position/Imbalance Management
Manage daily and monthly portfolio positions while balancing supply, demand and utilizing transportation and storage assets to optimize locational and temporal spreads. Assess, manage, and execute trading strategies to manage variable customer demand, supply disruptions, and pipeline outages on the portfolio. Take corrective actions such as trading, injecting or withdrawing from storage, park or loan transactions, or other mechanisms of portfolio management.
Asset Optimization
Optimize gas storage, transportation, and imbalances to lower customer gas costs. Assess the value of assets and trade physical and financial gas products to extract value while maintaining reliability. Understand key operational dynamics of the North American gas market and its impact on CGS operations.
Relationship Management
Develop and maintain key market relationships. Initiate new master agreements to enhance supplier diversity. Lead resolution of disputes with counterparties. Support PG&E’s Diverse Supplier program. Proactively cultivate ongoing long-term counterparty relationships.
All employees are responsible for performing their jobs in accordance with PG&E’s vision and values and Employee Code of Conduct.
This position is hybrid, working from your remote office and your assigned work location based on business need.
PG&E is providing the salary range that the company in good faith believes it might pay for this position at the time of the job posting. This compensation range is specific to the locality of the job. The actual salary paid to an individual will be based on multiple factors, including, but not limited to, specific skills, education, licenses or certifications, experience, market value, geographic location, and internal equity.
A reasonable salary range is:
Bay Area Minimum: $105,000
Bay Area Maximum: $169,000
Job Responsibilities
• Trade physical gas supply to manage daily position and optimize assets in the daily and prompt month market.
• Execute all trades in compliance with strategy limits, Transaction Control Limits, credit limits, and company risk policies.
• Must have the flexibility to work weekday trading hours beginning as early as 5 AM
• Maintain positive relationships with suppliers and other PG&E departments (e.g. Fuel Settlements, Gas Transmission) to support business and special initiatives.
• Manage pipeline imbalances; execute imbalance trades or transfers.
• Mitigate impact of pipeline Operational Flow Orders.
• Understand basic standard contract and confirmation provisions.
• Support team members on various tasks and handles special projects as assigned.
• Contribute to winter peaking deal negotiations and other structure transactions.
• Understand Core Procurement Incentive Mechanism
• Understand pipeline tariffs and maintenance impacts.
• Provide rotational on-call duty on weekends and holidays.
• Use and maintain trading management tools.
Qualifications
Minimum:
• Bachelor’s degree in business, finance, engineering or related discipline, or equivalent experience required.
Desired:
• One-year of relevant work experience.