PSEG Cost Offer Development Analyst in Newark, New Jersey

Requisition ID: 48343

Job Function/Category: 55609

Employment Type: Exempt Full Time

This is an exciting time to be joining PSEG. Our commitments, which include safety, integrity, customer focus, and diversity & inclusion, are the fabric of our culture and help drive the success of our business. We are fortunate to have an outstanding workforce of diverse and highly skilled talent who move us forward in our operational excellence journey. PSEG has more than 12,000 employees who are dedicated to the communities we serve and embody our vision: People providing Safe, Reliable, Economic and Greener Energy

This is a multi level position with placement dependent on candidate's level of experience.

This position requires a hybrid of specialized technical/engineering disciplines and ISO energy market expertise. The primary responsibility of the Cost Offer Development Analyst is the end-to-end development of Fuel Related Costs, maintenance VOM, emissions adders and Other Fuel Related Cost (OFRC) for all generating stations in accordance with the PJM manual 15 and tariff requirements, applicable procedures, or equivalent requirements from other ISOs. The Analyst is accountable for the accurate development of the cost based offers for the assets to be submitted into the participating markets.

Responsibilities Include:

Development of annual updates for Total Fuel Related Cost (TFRC) components per PJM manual 15, tariff and applicable procedures, including non-daily unit fuel related cost, emissions adders, maintenance VOM adder, and OFRC. This effort includes working and coordinating with other business units (Fossil, nuclear and Power Finance); pulling raw data from each of the generation assets, performing and reviewing calculations, and inputting data into the bidding system PCI to be submitted into the markets.

Development of annual Fuel Cost Policy (FCP) updates in accordance with the latest manual and tariff requirements, and ensuring compliance with the FCP when developing the TFRC for each of the generating assets.

Responsible for cost based offer procedure development/updating and adherence, coordinating and communicating with other organizations to ensure their procedures are updated with the latest market information.

Actively participates in Market committees to understand policy changes and impacts; Responsible for implementing and communicating market changes related to cost based offers.

Responsible for ensuring that the bidding tool (PCI system) incorporates the latest market requirements to accurately develop and calculate for each of the generating units (Fossil and Nuclear). This includes working and testing of the system to meet market requirements with outside vendor and internal IT team to ensure the accuracy and quality of the system.

Required Skills, Education and Experience:

Cost Offer Development Analyst:

  • Quantitative degree (Engineering or Math degree) or Finance degree (preferably with 7 years of experience in transactional cost based accounting)

  • At least 5 years of experience in the Energy Industry, preferably with knowledge of the following:

  • Knowledge of heat mass balance

  • Knowledge of cost drivers in fuel conversion or electricity production

  • Knowledge of Plant equipment maintenance cycles

  • Understanding of tariff and manual rules associated with cost based bidding

  • Solid understanding of the company’s generation assets, fuel, and regional market rules

  • Electric system operations, Electric Generation and Dispatch, economics experience

  • Advanced Excel knowledge

  • Knowledge of PI, PCI and/or Power GADS systems

Senior Cost Offer Development Analyst:

  • Quantitative degree (Engineering or Math degree) or Finance degree (preferably with 10 years of experience in transactional cost based accounting)

  • At least 8 years of experience in the Energy Industry, with knowledge in the following areas:

  • Knowledge of heat mass balance

  • Knowledge of cost drivers in fuel conversion or electricity production

  • Knowledge of Plant equipment maintenance cycles

  • Understanding of tariff and manual rules associated with cost based bidding

  • Solid understanding of the company’s generation assets, fuel, and regional market rules

  • Strong understanding of electric systems and generation economics

  • Electric system operations, Electric Generation and Dispatch, economics experience

  • Advanced Excel knowledge

  • SAP or equivalent Finance or Work Management systems

  • Knowledge of PI, PCI and/or Power GADS systems

Required Competencies:

  • Attention to detail

  • Sense of ownership / self-starter

  • Prioritization and organizational skills

  • Compliance focused mindset

  • Communication skills – verbal and written

  • Problem solving skills

  • Teamwork / conflict resolution

  • Ability to work well with other groups while maintaining independence of judgement

  • Leadership / ability to take charge

  • Project management and planning

Desired Skills, Competencies, Education and Experience:

  • Master’s Degree

  • Strong understanding of electric systems and generation economics

PSEG1000

As an employee of PSE&G or PSEG Long Island, you should be aware that during storm restoration efforts, you may be required to perform functions outside of your routine duties and on a schedule that may be different from normal operations.

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Business needs may cause PSEG to cancel or delay filling position at any time during the selection process

Public Service Enterprise Group (PSEG) is an equal opportunity employer, dedicated to a policy of non-discrimination in employment, including the hiring process, based on any legal protected characteristic. Legally protected characteristics included, race, color, religion, national origin, sex, age, marital status, sexual orientation, disability, or veteran status or any other characteristic protected by federal, state, or local law in locations where PSEG employs individuals.

Need to request an accommodation?

If you have a disability and need assistance submitting your resume, applying for a position or registering for a test, please call 973-430-3845. Any information provided regarding a disability will be kept strictly confidential and will not be shared with anyone involved hiring decision

Diversity at PSEG: Equal Opportunity Employer

PSEG is an equal employment opportunity employer and makes employment decisions, including but not limited to, hiring, firing, promotion, demotion, training, and/or compensation, on the basis of merit. Employment decisions are based on an individual’s qualifications as they relate to the job under consideration. PSEG's policy prohibits unlawful discrimination based on sex (which includes pregnancy, childbirth, breastfeeding, or related medical conditions, the actual sex of the individual, or the gender identity or gender expression), race, color, religion, including religious dress practices and religious grooming practices, sexual orientation, national origin, ancestry, citizenship, marital status, familial status, age, physical disability, mental disability, medical condition, genetic information, protected veteran or military status, or any other consideration made unlawful by federal, state or local laws, ordinances, or regulations.

Need to request an accommodation?

If you have a disability and need assistance submitting your resume, applying for a position or registering for a test, please call 973-430-3845. Any information provided regarding a disability will be kept strictly confidential and will not be shared with anyone involved in making a hiring decision.

PSEG is committed to complying with all applicable laws providing equal employment opportunities. This commitment applies to all persons involved in the operations of the Company and prohibits unlawful discrimination by any employee of the Company, including supervisors and co-workers.