Sunday, June 14, 2009

Natural Gas Trader


Natural Gas Trader

Job Requisition: 1000005916

Deadline to apply: June 24, 2009

Why Work at TVA?

When people pursue a career with a particular company, they look for many different things: challenging and rewarding work, professional growth, a good quality of life, a low cost of living, company benefits and perks. Whatever it is that you’re looking for, you’ll find it at TVA, a world leader in energy technology. TVA offers many benefits to the people of the Tennessee Valley, and we believe we have a lot to offer you, too, as a prospective employee. There’s one thing we can promise for sure—you’ll find challenges and inspiration every day at TVA .


This position is TVA's primary representative in negotiating natural gas trades with various natural gas brokers, producers and marketers. The position is responsible for developing and executing the natural gas trading plan for next day through end of month to support TVA's fleet of natural gas fired generation. The Trader remains in contact the market and is expected to understand and anticipate natural gas needs, availability, transportation requirements, constraints, and regulatory changes in order to develop innovative natural gas plans to acquire natural gas at the lowest possible cost. The position is responsible for working closely with Participant Scheduling and the Balancing Authority, and other Commercial Operations & Fuels partners and staff in optimizing TVA's natural gas supply by strategically buying and selling natural gas, at the lowest possible cost to TVA, in the natural gas short term and balance of month markets. This ensures purchase savings and reduces TVA's purchase power costs and generating costs, in order to provide customers with affordable/reliable power, TVA traders plan for and manage the purchase of over $700 million of natural gas annually.


Daily surveys the market to determine availability, price and the expected movements in the market. Must be aware of balances in storage, park and loan on each of several pipelines and determine the risk to the pipeline system (restrictions etc.). The trader integrates and evaluates this information and data from Resource Market Operations, System Planning, Risk management, Office of the General Counsel, and Economic Analysis, Corporate Credit along with the generation needs of TVA's gas fired plants (both combined cycle and if needed combustion turbines) to develop and execute a plan to purchase or sell natural gas on a variety of pipes and numerous counterparties to maximize the return to TVA and ensure the adequacy of natural gas supplies to meet TVA's needs. The trader will have to manage up to and over sixty transactions a day on six pipelines and must enter all transactions into the gas management system to ensure correct scheduling and billing.

In addition to the above, on peak day operations must be able to quickly create and/or modify the plan, develop innovative trades and purchase same day gas to minimize costs to avoid running plants on oil a much higher cost, purchasing power at a much higher cost or in the extreme avoiding power interruptions.

After hours (nights, weekends and holidays) know gas availability, storage, park/loan balances and pipeline restraints by pipeline and, if needed, develop and execute plan to purchase gas needed to avoid running the plants on oil or purchasing power (at much higher cost).

Coordinate with Hourly & Mid-Term Desk, Transmission and Reliability Organization's Participant Scheduling and Balancing Authority to optimize mix of hourly and next day power and Combined Cycle/Combustion Turbine gas purchases to ensure purchase savings, minimize TVA's costs, provide customers affordable/reliable power.

Evaluate net short (or long) position, determine gas need for today and tomorrow; develop natural gas plan for current market conditions.

Determine best economic option (buy, sell, use storage and/or park and loan) to supply natural gas to TVA fleet at the best cost, delivery, reliability and flexibility; ensure TVA remains compliant with all rules and regulations while developing the plan.

Execute plan by determining market conditions and negotiating, evaluating and completing bids and offers from numerous suppliers on each pipe to maximize the return to TVA, minimize delivered cost of power and ensure the reliability of gas supply to the TVA fleet.

Ensure gas is purchased on correct pipes/points/legs; be aware of pipeline limits in order to transport gas to plants at lowest possible cost.

Trading large amounts of natural gas (up to 700,000 MBtu or $5 to $7 million per day), on six pipelines on a real-time basis, simultaneously using electronic trading boards and instant messaging while also trading by telephone and keeping up with changing market conditions.

Identify new gas suppliers/alternative sources; request natural gas supply contracts (NAESB); be primary contact for contract process.

Daily input all transactions in gas management system (GasPro) to ensure proper scheduling, invoice payment, and gas usage at plants.

Help Origination Desk develop strategy, volume/terms, and initiate > 30 day gas requirement Requests for Proposals. Evaluate offers, recommend awards.

Maintain relationship with assigned municipal/cooperative gas distributors; ensure their gas supply and scheduling needs are met.

Performs other functions as assigned to meet organizational objectives and or to maintain procedures/processes.

* B. S. Degree in a business related field or the equivalent in education, training and experience.
* At least ten years of progressive experience trading and marketing natural gas.
* A Masters degree in business, finance, economics or related area is desired.
* Incumbent should have an extensive background in marketing, business, financial and/or operations background, and understanding of system requirements of natural gas generating units and pipeline systems.
* Knowledge should include a thorough understanding of natural gas markets, production/operating costs, scheduling, federal, state and TVA regulations, contract law and the terms and conditions governing gas supply contracting, financial instruments specifically related to energy industry, current developments in natural gas industry/infrastructure and risk management principals and strategies.
* Must have ability to respond to ever changing market conditions and quickly develop and execute a strategy and make decisions on how much gas to purchase or sell on multiple pipelines connected to storage fields and multiple plants in a quickly changing environment which may cause a change in strategy.
* Must have ability to quickly establish and maintain effective working relationships with other utilities, traders, and marketers..
* Must be pro-active, assertive and persistent in closing deals.
* Will be expected to be on-call at least once every two weeks for an entire week and week-end to ensure that adequate supply of gas is available in case of unexpected runs during after hours or week-ends.


TVA is an Equal Opportunity employer and complies with all applicable laws and regulations regarding equal employment opportunities. TVA gives hiring preference to qualified U.S. citizens and other protected individuals (green card holders, asylees, etc.) for all job vacancies. Between qualified U.S. citizens and other protected individuals, TVA gives hiring preference to equally qualified born or naturalized U.S. citizens. To claim veterans’ preference for a specific position, appropriate veterans’ documentation must be received by the closing date of the position.

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