Job Information
National Grid Senior Market Monitoring Analyst - ESO (12 Month Fixed Term Contract) in Wokingham, United Kingdom
About the role
Great Britain's electricity system is undergoing an ambitious, exciting and vital transformation. Together with industry, we are creating a cleaner, greener system, one that protects the planet and serves generations to come.
The Senior Marketing Monitoring Analyst reports directly to the Market Monitoring Manager and is responsible for working with Ofgem and across the organisation, to proactively monitor the technical and commercial performance of market participants against the European regulation on Energy Market Integrity and Transparency (REMIT).
Under the ESO license conditions, ESO is required to proactively monitor activity in the balancing services market, and to cooperate with Ofgem as a Person Professionally Arranging Transactions (PPAT), under the UK implementation of REMIT. PPATs are required to establish and maintain effective arrangements and procedures to identify breaches (of the prohibitions on insider trading and market manipulation) and report reasonable suspicions. By undertaking this role, you will deliver consumer value through supporting fairness, transparency and regulatory awareness of potential technical and commercial market issues.
Please note that given the nature of the role, successful candidates will need to rescind any current Control Room or Trading authorisations upon commencement of this role.
This is a 12 month fixed term contract.
This role can be based from Wokingham or Warwick, and we continue to offer hybrid working (https://jobs.nationalgrid.com/UK/content/Our-culture/?locale=en_GB) from office and home.
About us
The ESO has a key role to play in tackling climate change by transitioning GB’s electricity system to net zero. We already operate the fastest decarbonising electricity system in the world, with an ambition for zero carbon operation by 2025. And by 2035, we want to run 100% clean, green energy, all the time.
Becoming the National Energy System Operator
In Summer of 2024, the ESO will transition to becoming the National Energy System Operator, or NESO for short. Previously denoted as the Future System Operator (or FSO), the new National Energy System Operator will be the independent body responsible for planning Great Britain’s electricity and gas networks and operating the electricity system.
The ESO, including all of its existing roles, will be at the heart of the new National Energy System Operator. As NESO, we will build on our existing roles, capabilities, and ways of working significantly to create an organisation the energy system and its users’ need. Our new capabilities will enable us to look across vectors, including electricity, natural gas and hydrogen, and crucially consider the trade-offs between them.
The organisation will be set up as a public corporation with its own Board of independent directors, with complete operational independence from government, the regulator and any and all commercial interest. As the ESO are today, NESO will be licenced and regulated by Ofgem through price control agreements and obligated to identify optimal solutions to system operations and planning in the most sustainable, affordable and secure way for all.
The time to deliver is now. As part of our team (https://www.nationalgrideso.com/what-we-do/our-people/work-us) , you won’t just be touching the lives of almost everyone in Great Britain – you’ll be shaping the way we use and consume energy for generations to come.
Key accountabilities
Leading on the day-to-day monitoring of market activities, identifying and escalating any concerns in relation to market behaviour, or internal ESO behaviours to the Market Monitoring Manager.
Supporting the communications and engagement with Ofgem as regulator – including the presentation of market insights and behaviours observed.Working in close collaboration with the ESO control room and trading team to identify potentially suspicious activities
Leading the creation of standard reports and updates to the Market Monitoring Committee and the ESO Executive team if appropriate. Prepare and deliver internal reporting and support the escalation of suspected suspicious market behaviour.
Working in close collaboration with market change teams, commercial and technical code teams and contract managers, to ensure that adequate controls are in place for market products and are regularly reviewed against market rules.
Leading on a data accuracy project, working with market participants, the regulator, government and internal stakeholders to drive meaningful improvements in data submission against the designed monitoring framework.
Stakeholder engagement – reaching out to Market participants with queries regarding their data activity, sharing market insights and responding to queries from the market in a timely manner.
About you
What we do isn’t just important – it’s essential. That’s why we look to recruit experts in their field. In this case, we’re looking for someone who has:
Working knowledge of wholesale, Balancing and Ancillary Service energy market arrangements, and the ESO’s role within these.
An understanding of power systems operations, able to understand inputs into ESO trading and balancing mechanism actions.
Experience in analysing large volumes of data and working level knowledge of advanced excel techniques / SQL / Python / Power BI models to interrogate and utilise data, would be desirable.
The ability to work to tight timescales and understanding of the need for confidentiality in ongoing investigations.
Experience of working within a regulated environment and able to support engagement with external stakeholders.
Experienced in running investigations, including collating several data sets together to provide a full picture and to gain insights into behaviours.
The ability to use data to make decisions –able to use varied commercial and technical data to provide reasoned decisions and to collate findings and insights in a clear and logical manner, including recommendations for next steps.
What you'll get
A competitive salary between £55,000 - £65,000pa – dependent on experience and capability.
As well as your base salary, you will receive (https://jobs.nationalgrid.com/UK/content/Whats-in-it-for-you/?locale=en_GB) a bonus based on company performance, 26 days annual leave as standard and a competitive contributory pension scheme where we will double match your contribution to a maximum company contribution of 12%.
More information
This role closes on 24/06/2024 at 23:59, however we encourage candidates to submit their application as early as possible and not wait until the published closing date as this can vary.
We work towards the highest standards in everything we do, including how we support, value and develop our people. Our aim is to encourage and support employees to thrive and be the best they can be. We celebrate the difference people can bring into our organisation (https://jobs.nationalgrid.com/UK/content/Diversity-equity-and-inclusion/?locale=en_GB) , and welcome and encourage applicants with diverse experiences and backgrounds, and offer flexible and tailored support, at home and in the office.
We're committed to building a workforce that represents the communities we serve, and a working environment in which each individual feels valued, respected, fairly treated, and able to reach their full potential.
#LI-JW1
#LI-HYBRID