Data Analyst (Energy management)
IT, Data Science
Posted on Thursday, June 8, 2023
Globally, energy markets are going through unprecedented change with rapid development of renewable energy technologies, the introduction of battery storage, demand side response (DSR) initiatives and a growing range of in-home energy management technology, as well as the roll-out of Smart meters into consumer’s homes. These developments create significant opportunities for agile market participants that are able to harness the burgeoning
data flows and respond quickly to changes in customer demand and market signals.
Amongst this opportunity, there is also significant and growing risk. Wholesale energy is the largest cost that Octopus pays, and also carries the greatest volatility. It’s essential that we have a clear understanding, both of the risk that we are exposed to but also the opportunities to manage and mitigate. We have put a lot of time into building smart technology to manage our exposure – delivering powerful automated solutions rather than recruiting a large time to perform repetitive mundane tasks. This is an exciting opportunity for a talented analyst to join our procurement team and continue to develop the toolsets we use to manage our risks.
What you'll do
- Continuously monitor wholesale markets and our hedge position, ensuring that hedges are quickly placed to fill any exposures.
- Think about cleanest ways of reporting and visualising hedge position and wholesale risk. Either build these solutions or spec with the procurement tech team as appropriate.
- Think creatively around how different factors impact our risk position. How do exposures change if we have a period of cold weather?
- Work closely with the Energy Trader, and cover execution of wholesale trades when they are unavailable
- Work with many other Octopus teams to provide procurement numbers and insight (including strategy, finance, data science, pricing etc)
- Work with the data science team to develop forecast and optimisation models.
- Work closely with peers in our global businesses to share experience and best practise, and deliver a consistent approach to risk management
What you'll have
- Very bright, highly numerate, ability to handle multidimensional concepts
- Strong statistics, data analysis and data visualisation skills
- Experience using Python (Pandas, NumPy, Jupyter) and SQL in a version controlled environment
- Strong analytical skills coupled with an ability to think strategically. Sometimes we may need to act quickly
- Comfortable with responsibility and making potentially high-impact decisions
- Excellent verbal and written communication skills
- Knowledge of APIs and machine learning models is beneficial but not essential
What you'll love about us
- Our company culture - we won best company to work for in 2019 and our CEO, Greg has recorded a podcast about our culture and how we empower our people
- Flexible working environment - genuine work life balance here, we are in the top 5 companies in the UK, we treat you as a human, and do our best to make work and life merge smoothly together
- Relaxation - we don’t count your holidays here, we work hard, and so we know you need to play hard as well (within reason of course)
- Equity Options Scheme - you own your own part of the business, share options in the whole Octopus Energy Group so we all work together towards success
- Office culture - have a certain tech requirement? We’ll do our best to get it. Our offices are also stocked with fruit, breakfast, great coffee. Bi-monthly on a Thursdays we all get together (this happens virtually too) for company updates and drinks - we call it Family Dinner
- Your development is important - we support and help with development including internal and external courses, learning, study support etc, all bespoke to you
- SmartPension Scheme
- English Classes