Trainee Trader

ESB is a purpose led company striving to create a brighter future for the customers and communities we serve, leading the transition to reliable, affordable, low-carbon energy. Today, we operate one of the most progressive electricity systems in the world, with activities spanning electricity generation, transmission, distribution and supply in Ireland, Northern Ireland and Great Britain, and an international energy consulting business.

With almost 8,000 employees we invested €1bn in infrastructure last year, contributed over €2bn to the economies we operate in and distributed over €2m across a range of community initiatives. This requires us to bring the best of our capabilities together to deliver innovative and value-driven solutions that enable our customers to live low-carbon lives. ESB strives to foster an effective and inclusive culture where people engage, challenge and feel connected to our purpose, colleagues, customers and community.

Position Description

ESB Trading is a section of the Generation and Trading division of ESB and trades the output from the ESB portfolio in GB and Ireland through various trading strategies and time horizons. ESB Prompt Trading desks operate across all short-term Power and Gas Markets in to optimise ESB positions in these markets and to maximise value from the ESB generation portfolio.

We are currently seeking to recruit a Trainee Trader to work with our Prompt Trading teams. The purpose of the Trainee Trader role is to ensure that ESB has the required on-going skill sets to resource the Prompt Trading Desks and to occasionally provide cover for Prompt Trading rosters which may arise due to project work or other absences. It is not required that candidates have any significant knowledge of power markets as successful candidates will undergo significant training to allow them to operate as Prompt Traders in the GB & ISEM power market.

Key Responsibilities

The successful candidates will also have the opportunity to gain valuable insight to the development of the GB & ISEM markets and will have responsibly to contribute towards the successful delivery of the financial targets in a trading business with an annual gross margin of >€100m.

The key responsibilities of the roles include the following:

• Supporting development of prompt trading strategy for relevant desks
• Analysing markets
• Undertaking prompt strategy optimisation projects as required

As part of the Trainee Trader role, the successful candidates will initially need to spend some time working as part of a 24/7 operations team on a shift rotation basis where they will learn to:

• Dispatch our generation portfolio in the optimal manner
• Maximise the economic benefit from trading the power and gas positions
• Maximise balancing market revenue
• Re-optimise traded positions whilst expertly managing our exposure to volatile and punitive system imbalance charges
• Continuous re-assessment of our supply/demand position and risks during the day, taking account of potential plant failures and volatile market conditions
• Assist in the preparedness and readiness activities for the future state and activities of the group
• Manage interactions with stations, other market participants and other functions within ESB

Trainee Traders will normally work on days carrying out the above activities and supporting the Prompt Trading Desks. They will also be required to work a minimum number of shifts per month to maintain their Trading skills and providing cover for the Prompt Trading Rosters.

The Candidate

The successful candidate will:

• Be an excellent team member but self-motivated with the ability to work on your own initiative
• Demonstrate excellent communication and reporting skills to provide effective commentary at shift handover and to the management team
• Be comfortable making commercial decisions under tight timelines
• Have excellent and timely decision-making skills and judgement are essential whilst ensuring half-hourly deadlines are met
• Demonstrate a positive attitude to change with an ability to quickly adapt to dynamic trading and operating system conditions
• Have experience in the use of MS Office tools such as MS Excel and word would be an advantage

Knowledge, Skills and Experience

Essential

• Have good level of numerical, IT, analytical and communications skills

Desirable

• Basic understanding of gas and power trading and operations
• Ability to quickly translate complex analysis and accurate interpretation of electricity market and system data thus ensuring optimal trading and asset profiling decisions are taken

Qualifications

Relevant 3rd level qualification or equivalent work experience is required.

Location

Based in ESB Head Office, 27 Fitzwilliam Street Lower, Dublin 2. 

Reporting to

The successful candidate will initially report to the GB Prompt Trading Manager, ESB Trading.

Why work with us?

• Opportunity to lead Ireland’s transition to net zero carbon future
• Progressive, hybrid working model
• Career development through mentoring and training
• Corporate Social Responsibility Opportunities
• Sports and Social Clubs
• Networking opportunities
• Credit Union
• Generous Pension
• Access to staff well-being programmes
• Generous parental leave entitlements
• Strong values-based and inclusive culture
• Strong commitment to diversity, equity and inclusion
• Great team environment working to our Core Values: Courageous, Caring, Driven and Trusted

Salary

€46,000 - €54,000 per annum