Have been approached by a few recruiters in the Power markets and came across the privately held Tenaska Power Services. For those who've worked with them (physical + paper trading) or worked for them, I would appreciate any information about the company. Specifically, would like to know growth prospects, culture, compensation, and all that good stuff. Thanks!
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Know a lot of folks there. Great shop. Lots of long time employees. Own some markets.
Not sure about current pay.
DM me if you want names
Thanks for the comments mate! Let me DM you
Need soft skills, like customers and build good relationships. Turnover is very low since its a relationship building focus.
Also not sure on pay but the people over there seems to always do well but its all discretionary like an EDF I just think they get more customer specific/niche flow versus other places cause of how great their relationship side is.
Thanks for the response! Hmm.. relationship they have makes up the bulk of their flow. I have spoke a few of my connections who are traders in the power markets and even from them, I wasn't able to gather too many useful info to gauge how large/small a player they are. You mentioned like EDF, what are some other direct competitors to Tenaska? Appreciate the info in advance as always
Ahh thought you somewhat know of them. Tenaska is massive, huge presence in both gas and power. They have like 11 plants or so they manage which they helped build/toll and then trade/market on top of that. On gas side they manage lots of AMAs all over place with different utilities, they market every region. Various offices. Business style is physical first/customer first and longterm vol/arb wins out.
Competitors for them are all merchants/shell/bp/banks anyone who would hold physical assets.
Hmm I see, did go through the recent annual report available on their site (2019) but unfortunately yes, that's the only bit I know of them... Coming from a non-energy desk at a HF, so a lot of this is still relatively new to me. Thanks for your comments, they are quite helpful in understanding about Tenaska even more.
I have spoken to a few whom have worked there/still working there and most of which agrees that people stay there for a long time, perhaps an indication employee retention is quite high. That's why I was wondering what would the comp look like as well as the growth prospects.
If you can comment on one more thing (assume you cover energy/power markets), what's the standard career paths if you will for this space? Is it the typical start at the banks and then moving to buyside (physical traders/prop shops/HFs)? And also any thoughts on the power markets going forward (e.g. increasing levels of renewables into the supply stack, electricity storage, etc.).
Oh my friend, if I could answer that on a long-term basis, I'd be more famous than Rusty Braziel and Dennis Gartman!
Seriously, that is one of the most complex questions you could ask since EVERYONE has a different view.
hold on, if you're at a non-energy desk at a HF, why do you want to move to a producer?
Tensaka has a big gas book and they're starting to compete with the big boys in power
Do not intend to move to energy at all. Just knew a few of my buddies who went into Energy (previous backgrounds in global macro, emerging markets, and equities) and wanted to see what's "trending" on the energy side of things. Tenaska popped up while doing my "research" (from recruiters) and I guess my curiosity got the best of me as I couldn't find too much info about them besides their website and the usual press releases of their acquisitions. Thus, I came here and hope to gather more intel :)
Thanks for adding on to what I've gathered from others whom commented on here. Feel free to share more and whether if you know the typical comp and exit opportunities after working at a producer? Cheers
Tenaska knows what they are doing in both power and gas. As said before a huge part of their business is managing power plants/gas exposure for clients. The other side of the business is trading on their own behalf. Not sure about higher up but I know some lower power guys get a slightly smaller salary than market but they get quarterly bonuses which can be quite sizable, if the markets are volatile. Downside there is if market vol sucks, so will your pay.
Thanks for providing that info. Have not heard the quarterly bonus payout until you brought it up so just want to gauge is this more specific to Tenaska comp structure or there are a few firms who adopt something similar. Cheers!
Some trading shops do this. Case by case basis
Biourja has a quarterly bonus payout structure as well
Only pays out on realized pnl
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