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ERCOT Power Fundamentals Analyst

Macquarie

Minneapolis, MN

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JOB DETAILS
SKILLS
Analysis Skills, Behavioral Health, Coaching, Communication Skills, Data Management, Data Modeling, Data Science, Data Sets, Employee Assistance Plan, Finance, Financial Services, Fundamental Analysis, Global Financial Markets, International Business, Investment Capital, Logistics, Market Analysis, Monitor Regulations, Pricing, Profit & Loss, Python Programming/Scripting Language, Qualitative Analysis, Quantitative Analysis, Regulations, Reimbursement, Reporting Dashboards, Risk Analysis, Risk Management, SQL (Structured Query Language), Software Development, Stock Market, Tibco Spotfire, Training Data Sets, Work From Home
LOCATION
Minneapolis, MN
POSTED
2 days ago
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Join our North American Power team as an ERCOT Power Fundamentals Analyst, working at the intersection of trading, data science, and software development. Working on-site with the trading desk in Minneapolis or Houston, you will collaborate directly with traders and fellowanalysts to transform complex, high-volume market data into actionable insights that inform fast-paced decision-making.

As part of a small, highly integrated team, you will play a key role empowering ERCOT trading decisions with data-backed, evidence-based, qualitative and quantitative analysis. Your work will focus on analyzing generation, load, transmission, and price formation, helping to develop a clear, data-driven view of market dynamics. Success in this role requires strong technical capabilities, intellectual curiosity, and the ability to form and confidently communicate an independent market view. You will be expected to move quickly, adapt to changing conditions, and proactively highlight when assumptions or analyses need to be challenged.

We are a global financial services group operating in 30 markets with 57 years of unbroken profitability. At Macquarie, you're empowered to shape a career that is fulfilling and creates value. You will bring your insights and expertise to the task at hand and feel supported as you make your own kind of impact for a better future.

What role will you play?

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In this role, you will build and maintain ERCOT-focused data pipelines, dashboards, models, and analytical tools that directly inform trading decisions. You will develop and refine fundamental models, including supply and demand balances, generation stack analyses, and key price drivers, forward looking inferential models, while analyzing core market variables such as load, generation, transmission, and congestion patterns. You will actively monitor regulatory risks, day-ahead and real-time market activity, identifying dislocations, risks, and trading opportunities as they emerge. Working closely with traders, you will translate complex analytical outputs into clear insights and continuously refine your models and market view based on evolving desk needs. Additionally, you will be responsible for synthesizing large, unstructured, and often noisy datasets into structured, defensible views of the market that inform positioning and strategy.

What you offer

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  • Minimum of 3 years of experience in power markets, ideally within a trading environment (ERCOT preferred)
  • Strong understanding of core power market concepts, including generation stacks, DA/RT markets, scarcity pricing, demand response, load growth, and regulatory risks
  • Experience working with power flow or grid modeling tools (e.g., Dayzer, PowerWorld) is preferred
  • Strong technical skillset, including required experience in Python and SQL, with preferred familiarity in tools such as Dataiku, Excel, Redshift, Snowflake, Spotfire, or similar analytics platforms
  • Ability to work end-to-end, with large, messy datasets--pulling the data, building models, creating visualizations, analyzing the outputs
  • Strong communication skills, with the ability to clearly and quickly articulate complex ideas and adapt messaging to various traders
  • Proven ability to form independent market views, challenge others' assumptions, and operate effectively in a fast-paced environment
  • Self-starter mindset with a high degree of curiosity and comfort working in ambiguous or evolving situations with the goal of informing traders and finding opportunities
We love hearing from anyone inspired to build a better future with us, if you're excited about the role or working at Macquarie we encourage you to apply.

What we offer

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At Macquarie, you're empowered to shape a career that's rewarding in all the ways that matter most to you. Macquarie employees can access a wide range of benefits which, depending on eligibility criteria, include:
  • 1 wellbeing leave day per year and a minimum of 25 days of annual leave
  • 20 weeks' paid parental leave for primary caregivers along with 12 days of paid transition leave upon return to work and 6 weeks' paid leave for secondary caregivers
  • 2 days of paid volunteer leave and donation matching
  • Benefits and initiatives to support your physical, mental and financial wellbeing such as medical, prescription drug, dental, and vision insurance; health savings account and dependent day care savings account; life insurance, disability, and other insurance plans; 401(k) and short/long term disability
  • Access to our Employee Assistance Program, a robust behavioural health network with counselling and coaching services
  • Access to a wide range of learning and development opportunities, including reimbursement for professional membership or subscription
  • Recognition and service awards
  • Hybrid and flexible working arrangements, dependent on role
  • Reimbursement for work from home equipment


About Commodities and Global Markets

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Commodities and Global Markets is a global business offering capital and financing, risk management, market access, physical execution and logistics solutions to its diverse client base across Commodities, Financial Markets and Asset Finance.

Empowering all kinds of bright and driven people

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We are committed to providing an inclusive environment for all that values and respects different experiences, skillsets and perspectives. Macquarie provides access to opportunities for all individuals regardless of race, color, religion, sex, sexual orientation, national origin, age, disability, protected veteran status, genetic information, marital status, gender identity or any other characteristic or circumstance.

We provide reasonable accommodation to individuals who may need support during the recruitment process and employment. If you require an accommodation, please let us know during the application process.

About the Company

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Macquarie