Manager Commercial Operations – Princeton, NJ

COMPANY BACKGROUND

Cogentrix is a leading independent power producer with a long track record of successfully acquiring, developing, constructing, operating, improving and divesting power generation assets. Cogentrix is owned by funds managed by The Carlyle Group, one of the world’s largest alternative asset management firms, and serves as Carlyle’s in-house power asset management platform. Cogentrix has been directly involved in the development, ownership, operations and management of coal-fired, natural gas-fired, and solar power assets delivering a combined generating capacity in excess of 10 GW. Through the ownership and operation of these plants, Cogentrix has participated in most of the major power regions in the U.S. Cogentrix currently manages plants in the Carlyle portfolio, which has a total net generation of approximately 5,800 MW.

POSITION SUMMARY

As the Manager of Fuels you will be responsible for all physical fuel procurement and financial fuel hedging to support Carlyle Power Partners power generation portfolio. The Manager will work out of Cogentrix’s Princeton, NJ location in the Commercial Operations team and report directly to the V.P. Commercial Operations. They will oversee a group of traders that will be transacting both physical and financial natural gas, ULSD and residual oil for short, medium and long term contracts. They will also be responsible for managing the position through delivery while also ensuring that the necessary processes, procedures and systems are in place to track position P&L and report up to senior management. They will be responsible for providing analysis and recommendations to senior leadership to maximize energy revenue generated by the power portfolio through prudent, risk averse strategies. This Manager will develop and implement new trading strategies to bring additional value to the portfolio while working closely with the physical and financial gas team. They will also assist in the M&A process when new assets are being purchased and existing assets are being divested.

DUTIES AND RESPONSIBILITIES

  • Work closely with the VP, Commercial Operations and power trading team to optimize the value of the power generation portfolio by actively trading gas futures contracts to hedge forecasted generation margins.
  • Manage the natural gas hedge portfolio in order to maximize gross margins within the scope of the risk management policy.
  • Develop and execute hedging strategies, including the use of futures and options.
  • Maintain strong relationships with counterparties in the natural gas physical and financial markets.
  • Support the V.P., Commercial Operations and power trading team to price and execute long-term structured products, including heat rate call options and tolling agreements.
  • Manage the physical gas desk to accurately price futures markets in multiple regions across the U.S. to support the organization in the M&A process.
  • Mentor and develop traders and junior traders to support the growth of Congentrix’s Commercial Operations team.
  • Performs other duties to support the power generation, physical gas and scheduling teams.
  • Occasionally present performance to executive leaders and owners.

EDUCATION/EXPERIENCE

  • Bachelor’s Degree with a concentration in Business, Computers, Economics, Mathematics, Finance or Engineering preferred.
  • Minimum of 5 years northeast natural gas trading experience a must.
  • Preferred – Experience in all commercial aspects of natural gas assets (commodity transportation, storage, gas scheduling, LDC relationships, etc.) including experience in the economic evaluation of such assets for electric generation, rolling agreements and related energy transactions.

KNOWLEDGE/SKILLS

  • In-depth knowledge of Northeast gas pipelines (Algonquin, Maritimes, PNGTS, TGP, Iroquois, Tetco, TCO, Transco) gas infrastructure.
  • Familiar with a variety of pipeline and utility tariffs, practices, and procedures.
  • Excellent verbal and written communication, negotiation and team leadership skills required.
  • Highly motivated and able to work with a limited amount of direct supervision.
  • Proven track record of developing and maintaining relationships in the industry and being a strong market maker.
  • Performs a variety of tasks. A wide degree of creativity and latitude is expected

Qualified candidates should send Resume by email to careers@cogentrix.com. Please note the Position in the Subject line of your email.