Portfolio Manager

Portfolio Manager - UK

ENGIE is a global reference in low-carbon energy and services. With almost 100,000 employees, its customers, partners and stakeholders, the Group is committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmental-friendly solutions. Inspired by its purpose (“raison d’être”), ENGIE reconciles economic performance with a positive impact on people and the planet, building on its key businesses (gas, renewable energy, services) to offer competitive solutions to its customers.

GEMS (Global Energy Management and Sales) is one of the global business units of ENGIE. Specializing in energy markets, GEMS’ mission is to ensure the competitiveness of ENGIE’s business units and to develop its own franchise with external customers, through a comprehensive range of services related to risk management, energy asset optimization and trading. GEMS manages over all time horizons one of the largest and most diversified energy portfolios, including electricity, natural gas, coal, oil products, biomass, CO2 and environmental products and has a presence in key energy marketplaces.

Energy Management UK develops GEMS’ activities in the UK and Ireland. GEM UK is currently expanding and so if you don’t believe you are a good match for this role but still have an interest in joining us, do not hesitate to contact us as we may have a role that matches your talents.

ROLE PURPOSE

Provide asset risk management services to internal clients across all time scales from the long term through to delivery.

Main activities

• Asset Representation
  • Model renewable power generation, power storage and biomethane production assets in cooperation with quants & traders
  • Provide a realistic expected value of the future revenues of these assets (including their flexibility and constraints). Forecast revenue margins, running hours and production volumes 
  • Quantify the uncertainties around these metrics. 
• Assets support on risk management
  • Support assets and provide educated views on securing the value and reducing risks identified through asset representation, proposing a risk mandate and shaping decision making related to future hedging actions.
  • Active engagement with senior management of ENGIE’s internal Global Business Units (GBUs) “owning” the assets (eg FlexGen GBU covering flexible generation, Renewable GBU covering renewable generation and Networks GBU ).
  • Working in collaboration with internal market analysts, share markets’ updates when relevant with the GBUs.

• Hedge execution 
  • Execute agreed hedging strategies on behalf of all assets, transacting with internal Trading teams.
• Commodity Mgt
  • Where appropriate, manage the physical fuel capacity and stock for the assets.
• Maintenance planning
  • Assist assets in optimisation of flexible maintenance programs to ensure that the asset is more available during periods of system need, whenever possible.
• P&L reporting
  • Report financial performance of the assets in coordination with Finance and other operational teams.
  • Report on asset valuations and changes in value for the assets.
• Studies
  • Conduct valuation and sensitivity studies on asset related products or initiatives (e.g. (dis)investments, flex increase, maintenance shifts, combining renewable with non-renewable assets)
  • Support regulatory teams in strengthening lobby arguments through analysis and expertise

Location

• Team based in London, Liverpool Street area. Flexible/hybrid working is available
• BP Energy Management UK: Team V&A (Valuation and Analysis)
• EC MAS (Markets, Assets, Supply)

Challenges:

• Client centricity: communicate with our current and new clients, share strategy and results, challenge the needs, and coordinate the client requests within Energy Management UK
• Team player: foster good collaboration and communication within the team and internally to share the understanding and operational responsibility of the full value chain of a power asset
• Digital: continuously search for improvement and simplification of tools, processes and methodologies.  

Interaction scope:

• Energy Management UK front office teams (Trading & Origination, Shift team)  
• Energy Management UK support teams (Within V&A, IT, Finance, Risk)
• Clients (Flexgen GBU UK, Renewable GBU UK, Networks GBU UK)
• External bodies (eg NESO)

Experience:

Essential:

• Understanding of commodity market fundamentals, preferably power
• Excellent written and spoken English
• Digital mindset, motivated to simplify and automate processes and reporting
• Strong communicator, with an ability to engage clients and colleagues effectively
• Collaborative approach to problem solving
• Confident decision maker, aware of the value at stake
• Structured and analytical approach
• Higher education, or appropriate experience.

Preferred, some aspects will be learned:

• UK Power market experience
• Portfolio Management experience
• Advanced understanding of risk management systems
• Options pricing
• Expert in Python, experienced in version control and pipeline management
• Understanding of generation assets, power plant representation and appropriate hedging strategies
• Gas market experience
• University degree in a quantitative area (eg IT, engineering, mathematics, economics)