Sobre este puesto de Commercial Analyst en ON.energy
ON.energy is building the backbone of energy and AI infrastructure powering grid-safe data centers and mission-critical facilities. The company supplies and operates hyperscale power systems that solve the toughest resilience challenges, delivering custom solutions for AI data centers, mission-critical facilities, and front-of-the-meter assets. ON recently announced a 5GW partnership, with 3GW currently under construction across multiple hyperscale data center campuses. With patented technology and proprietary software, ON.energy develops projects worldwide that set new benchmarks for resilience.
Role Summary
On Energy is seeking a highly competent Commercial Analyst (CA) to support its energy trading operations. This role is vital to ensuring informed commercial decision-making across power markets. The successful candidate will provide the market and analytical foundation for the desk's commercial positions while actively participating in the full lifecycle of deal origination, negotiation, and execution. This position requires a highly skilled individual with both analytical and communication competencies who can manage a high-pressure, fast-paced environment.
Key Responsibilities
- Market Views: Develop market analysis and structural views on power markets, evaluating the performance of active trading strategies.
- Fundamental Analysis: Perform fundamental research on ISO supply/demand stacks, weather patterns, fuel prices, and transmission constraints in ERCOT.
- Commercial operations: Monitor and analyze the Commercial operations of merchant assets, such as telemetry, cycling, bidding and dispatch rules. Work closely with operations, asset management, and commercial teams to align trading with operational capabilities.
- Opportunity Screening: Evaluate emerging market opportunities in demand-side flexibility and new merchant instruments, including ERCOT 4CP peak avoidance, demand response and ancillary service participation, and load-side products, sizing the revenue opportunity and the contractual structure required to capture it.
- Daily P&L: Calculate, report and explain P&L, including benchmarking and attribution to fundamental drivers.
- Position Tracking: Monitor and report the desk’s positions across all hubs, tenors, and products.
- Risk Metrics: Monitor exposure against contractual and credit limits.
- Deal Valuation: Model and value structured transactions, including virtual PPAs, tolling agreements.
- Contract Analysis & Negotiation Support: Review ISDA Master Agreements, Schedules, Credit Support Annexes, EEI/NAESB confirmations, term sheets and definitive agreements to identify commercial risks, credit and collateral terms, and embedded optionality; support negotiation alongside Legal and Credit.
- Counterparty Onboarding: Manage onboarding processes, including ISDA/CSA execution, KYC, credit review, margining and collateral terms, and coordinate with Legal for contract execution.
- Support the Development team on valuating energy assets and portfolios from the commercial/market standpoint.
- Build and review valuation models (DCF, merchant curve scenarios) and support diligence workstreams on acquisitions and divestitures.
Key Requirements
- Bachelor’s degree in Finance, Economics, Engineering, or Science.
- 1-2 years in energy market analysis, investment banking, structuring, or energy project finance.
- Advanced Excel financial modeling; working proficiency in Python and SQL for market data analysis.
- Understanding of wholesale energy nodal markets and energy contract structures.
#LI-AD1
For US-based roles - What you’ll get:
- Competitive salary + annual performance-based bonus eligibility
- Medical, dental, and vision insurance
- 401(k) with company match
- Paid time off and company holidays
For Mexico-based roles - What you’ll get:
- Competitive salary + annual performance bonus eligibility
- Christmas Bonus (Aguinaldo): 30 days
- Major medical expenses and life insurance
- Paid time off and holidays (per local policy)
For all roles:
- Professional development and growth opportunities
- Opportunity to grow with a mission-driven team shaping the future of clean energy
- Equal Opportunity: ON.energy is committed to equal employment opportunity and to maintaining a work environment free of harassment, discrimination, or retaliation.
- Accommodations: If you need an accommodation during the application process, email [email protected]
- Benefits vary by role and location and are subject to change.
Agency Notice: ON.energy does not accept unsolicited resumes from staffing agencies, search firms, or third-party recruiters. Resumes submitted without a fully executed Master Services Agreement (MSA) and a written request from an authorized member of our Talent Acquisition team will be considered the property of ON.energy. No placement fees or compensation will be paid for unsolicited candidate submissions.
