Economist (Market Mitigation & Analysis)

About the position The New York Independent System Operator (NYISO) manages the efficient flow of electricity on more than 11,000 circuit-miles of high-voltage transmission lines, dispatching power from hundreds of generating units across the state. The New York Independent System Operator (NYISO) applies cutting-edge technology to operating a reliable electricity system, managing competitive markets for wholesale electricity, and planning for the Empire State's energy future. The NYISO’s Market Mitigation & Analysis department invites applications for a full-time Economist to join our team. The Economist will analyze the design, structure, behavior, and outcomes in the bulk electric power markets administered by the NYISO to ensure that market rules, market signals, and protective measures promote workably competitive solutions.

Responsibilities

• In conjunction with other staff, analyze NYISO markets and proposed market design changes to identify potential market design flaws. These analyses focus on market outcomes as they relate to various systems conditions, market participant behavior, and operations. Present analyses internally and in the NYISO stakeholder process.
• Serve as a Market Mitigation and Analysis staff representative on economic issues internally and externally as they affect the design of the NYISO markets.
• Interpret economic and statistical data in areas related to NYISO markets and related markets (e.g., primary fuels, competitive offering behavior, investments in system expansion).
• In conjunction with other staff, evaluate economic decisions made by market participants and the effects on the NYISO markets in the light of market participant-specific circumstances.
• Develop methods and procedures for collecting/processing and reporting data internally and to the market.
• Develop techniques to analyze economic data relevant to NYISO markets.
• Review and analyze economic data in order to prepare reports detailing results of investigation including graphic illustrations of findings and keep the Managers abreast of economic changes.
• Produce reports and memos for NYISO senior management, market participants, and regulators.
• Formulate recommendations, policies or plans to aid in market interpretation or solution of economic problems.
• Prepare affidavits related to economic issues related to NYISO markets in support of NYISO filings.
• Utilize economic expertise to solve problems for buyer-side mitigation analyses, physical withholding determinations, and the demand curve reset.
• Conduct research on issues pertaining economics, financing, and accounting. Make recommendations based on sound theoretical research and vetting internally and with the external Market Monitoring Unit.
• Summarize findings in written memos, and/or communicate them verbally to members of NYISO management. Support the research, drafting, and review of materials in regulatory and litigation proceedings.

Requirements

• Master’s Degree (MS) in Economics; PhD. desired.
• Five years related experience; or equivalent combination of education, training and experience.
• Ability to read, analyze and interpret common scientific and technical journals, financial reports and legal documents. Ability to respond to common inquiries or complaints from market participants, regulatory agencies or members of the business community. Ability to write speeches and articles for publication that conform to prescribed style and format. Ability to effectively present information to top management, public groups and/or boards of directors.
• Ability to apply advanced mathematical concepts such as exponents, logarithms, quadratic equations and permutations. Ability to apply mathematical operations to such tasks as frequency distribution, determination of test reliability and validity, analysis of variance, correlation techniques, sampling theory and factor analysis.
• Ability to define problems, collect data, establish facts and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
• Intermediate competency in Windows operating environment using MS Office applications, e-mail and internet programs.
• Proficiency in at least one programming language.

Benefits

• In addition to competitive salaries, we offer a comprehensive benefits package and innovative reward programs.

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