Vp Rates & Energy Procurement

**Position may be filled as a Managing Director**

1. Initiates, with ACES, an annual hedge plan and execution strategy, including a congestion mitigation strategy using FTRs and/or OTC power swaps. Monitors power supply and congestion strategies to ensure that hedges are executed in compliance with the annual plan, or if exceptions are warranted, that proper approvals are in place, and that steps are taken to mitigate the congestion risk. Plans, reviews and analyzes potential renewable energy projects (e.g. solar installations) with ACES and the National Renewable Cooperative Organization (NRCO) and independent developers for portfolio fit and cost effectiveness. Documents, processes exceptions and communicates any deviation from the hedge plan and/or congestion strategy to SMECO executive management and Board Risk Oversight Committee. VALUE: 15%

2. Develops, in conjunction with ACES, SMECO's annual power supply budget. Provides regular updates, including formal presentations, to the Power Supply Committee and BROC on SMECO's portfolio position including the latest changes/additions to supply, average costs compared to budget and percent of portfolio hedged. Ensures compliance with Board policies related to power supply, including updating, as necessary the authority matrices to allow for alignment with current market pricing and activity. Directs analysis of current and proposed power supply transactions, including forwards, structured products, options, gas hedging, etc., for effect on the overall energy portfolio and reports the results and recommendations to SMECO's Board and Executive staff. Serves as SMECO representative on the Association of Large Distribution Cooperatives' Power Supply Working Group. VALUE: 15%

3. Directs the division's risk and credit management activities for energy procurement and the evaluation of potential power supply transactions regarding risk compliance, tax, and potential FAS 133 issues. Oversees reporting of portfolio activities to senior management and Board. VALUE: 10%

4. Oversees the division's participation in PSC, FERC, PJM, and utility meetings, committees, and groups representing SMECO. Directs division activities to develop rate and regulatory policy and the division's participation in SMECO internal activities regarding regulatory matters, wholesale power supply, PJM, and rates. Oversees regular monitoring of other utility rates and practices for competitive evaluation. VALUE: 15%

5. Directs the design, preparation and implementation of retail rates for electric service through the development of rate studies, the preparation of rate filings, and participation in regulatory proceedings to implement those rates. Directs the preparation of required, periodic regulatory filings including the annual PPCA audit, the annual EmPower MD surcharge and Demand Response surcharge factor filings, and Standard Offer Service charge adjustment filings. Also directs the division's participation in regulatory proceedings on these matters including testimony. Manages the division's interaction with Curtailment Service Providers for providing customer load and peak demand as required. VALUE: 15%

6. Directs the preparation of annual embedded cost of service studies for class revenue requirements and marginal cost of service studies to support proposed rate design proposals. Directs the preparation of SMECO's long-term load forecasts. Directs the preparation of SMECO's ten-year forecast to the Public Service Commission. Directs the preparation of SMECO's budget revenue projections and budget power supply cost projections for SMECO's annual budgeting function. Directs SMECO's short-term load forecasting for SMECO's daily power supply portfolio management. Manages the daily and monthly system load settlement operations for retail choice requirements in PJM. Manages the division's work on developing monthly PPCA factors and running SMECO's PPCA model. Manages the division's work on developing monthly BSA factors and running SMECO's BSA model. VALUE: 15%

7. Manages SMECO's load research operation to produce on-going class load data to support cost of service studies, rate design, demand and energy forecasting, demand response and energy efficiency impacts, and other uses. Manages the design, implementation, and collection of data from samples of SMECO's residential and commercial customers, and the review, analysis, summary, and reporting of load data results. VALUE: 10%

8. Conducts other economic and quantitative analysis, as needed. Prepares the division's budget for incorporating into the department's budget. Performs other duties as assigned and completes training necessary to maintain or enhance job performance. VALUE: 5%

Education:

Four-year college degree in engineering, accounting or business discipline and a complimentary, diverse advanced degree such as an MBA. Professional certification is preferred (e.g. EIT, PE or CPA).

Experience:

Minimum eight years progressive experience in the operation, control or accounting of electric utility systems. Experience with wholesale energy markets required, including, but not limited to, risk management, ISO/RTO experience with knowledge of accounting procedures and relative computer applications.

Salary Range - $150,000 - 250,000