Commercial Energy Analyst

Job Purpose / Overview

This role has responsibility for in depth analysis to support the route to market for Fidra operational assets, which includes the development of key performance metrics, risk analysis and reporting.  This key role will also include the management of external forecasting and development of inhouse models to support wider business growth and acquisitions.

The role will also be responsible for monitoring and reporting on energy regulation include conducting impact assessments and the preparation of consultation responses and associated analysis.

Contextual Information

Operating Environment

The Commercial Energy Analyst will be supporting the building of analytics from the ground up in a growing BESS business with 1.4GW of large-scale BESS under construction, an additional 1.6GW with ready to build status and European expansion ambitions. As large-scale BESS operators, the primary commercial focus will be on wholesale arbitrage through efficient trading strategies from forward hedging to short term reoptimisation.

Following the sale of West Burton B CCGT in August 2024, EIG established Fidra Energy as a strategic fund to develop, build and actively manage large scale BESS in GB and Europe. With construction of the landmark 1.4GW (3.1GWh) Thorpe Marsh project underway, and a second project, West Burton C (0.5GW), progressing to FID by Q1 2026 the focus is now on expanding the business. This includes the growth and development of the commercial team whose responsibilities include Route-to-Market origination & contract management, internal & external stakeholder reporting, risk management and M&A analysis in GB & EU.

This role will be a hybrid role with a mix of home and Edinburgh office (minimum of 3 days) with some travel as and when required.   

Principal Accountabilities

• Lead, design and maintain internal market models & forecasting tools to support investment decisions and optimise trading strategies
• Actively manage external relationships and operation of multiple Route-to-Market contracts & providers
• Reviewing and benchmarking market trends, provide insights on competitor and market activity, identifying trading strategy improvements & new opportunities in both energy markets and the capacity market
• Engagement with an integrated site management team with active reporting on asset monitoring and performance
• Prepare reports, dashboards, and presentations for senior management and investors, in a clear and insightful manner, including monthly commercial
• Ensure and demonstrate compliance with all legal and contractual obligations affecting commercial via liaison with authorities and implementation of procedures to ensure identification, mitigation and control of risk
• Assess risks and opportunities associated with energy investments, projects, and operations. Conducting financial analysis, cost-benefit assessments, and risk assessments to evaluate the economic viability and profitability of energy projects in GB and EU
• Track, assess and report on the potential impacts of policy and regulatory changes on energy markets, industry stakeholders
• Responsible for assisting in the management of contracts with key suppliers for outsourced operations and provisions of services
• Support commercial teams with business case development for new projects and partnerships.
• Collaborate with finance, strategy, and operations teams to align assumptions and forecasts.
• Contribute to the design of long-term commercial strategies for asset optimisation and portfolio growth.

This list is not exhaustive

Dimensions

Area

Description

Trading Strategy

Derive the short, medium and long term wholesale trading strategies for PPA & Merchant BESS units

Ensure route market providers deliver against the trading strategies and implement measures to quantify the success of these strategies

Reporting, Monitoring and Compliance

Ensure compliance with all relevant regulation codes and legal obligations

Establish and implement a process for tracking, management and optimisation of all optimisation strategies including information to optimise decision-making

Assessing, analysing and reporting on the potential impacts of policy changes on energy markets, industry stakeholders, and the environment. 

Origination

Work with wider commercial team in origination of current and new energy services and products in line with trading strategy, including preparation of term sheets, tender documentation and co-ordinating supporting analytics

Core operations

Develop clear procedures and processes for day to day activities of the commercial area

Work with wider Commercial team to establish a clear risk mandate and ensure operation within this

Analytics

Develop Fidra's Analytical capability by building or procuring models/systems to evaluate origination deals and longer-term arrangements, as well as looking for opportunities to optimise value from existing arrangements.

Regulation

Monitor, assess and undertake impact assessments for energy regulatory and policy changes including preparation of consultation materials and establishment of regulatory risk register.

Knowledge, Skills, Qualifications & Experience

Knowledge & Skills

Essential

• Knowledge of the UK electricity market, key opportunities and risks for BESS generation, in particular.
• A self-starter with a desire to learn quickly and thrive in a high performance and non-bureaucratic environment
• Ability to work independently and in cross-functional teams.
• Well organised and disciplined with track record in delivery
• Excellent written and verbal Communication skills and, in particular the confidence to present to senior leaders both internally and externally
• A good listener with the ability to identify key information quickly
• Strong quantitative and analytical skills with ability to interpret complex market data with strong attention to detail and problem solving skills
• The ability to deliver high activity and work independently
• Excellent communication, presentation and interpersonal skills
• Excellent time management to balance long term initiatives with ad-hoc and routine tasks
• Write reports, presentations, and data visualisations to convey complex information in a clear and understandable manner.
• Proficient in all Microsoft office applications

Desirable

• Previously worked in operational analytics and energy market modelling
• Familiarity with regulatory frameworks (Ofgem, National ESO, etc.)
• Knowledge of long term Route-to-Market operation & origination
• Proficiency in python, or equivalent, alongside data visualisation tools

Qualifications & Experience

Essential

• Educated to at least degree level in a numerical/quantitative STEM subject or Economics
• Minimum of 3 years' experience in energy industry analytics or 12 months minimum experience in GB energy market with direct experience of trading and dispatch of BESS assets.
• Proven Analytical/Data Science background with experience of developing models and using these to achieve value from Generation assets.

Desirable

• A strong understanding of the UK wholesale electricity market regulatory framework
• Trading background in UK Power, Gas and Carbon
• Operated within a 24/7 shift trading team dispatching assets in the UK
• Knowledge of options and forward trading products