Has anyone here ever worked as a scheduler/dispatcher for electric power? I have a couple of interviews scheduled for these types of roles but am unsure about what kind of exposure to the trading/origination side of the business they would have, or their pathway for advancement longer-term. I know gas scheduling has been discussed more at length here but I didn't find as many answers for power scheduling. If anyone is willing to provide insight please let me know.
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Hi Stringerslights, whoops, looks like nobody chimed in here.... maybe one of these discussions below is relevant:
More suggestions...
Hope that helps.
I have not done the role personally. Scheduling for power is not as big a requirement to advance into trading as it is for other commodities; that being said it's still a good seat. Most places run a centralized scheduling/dispatch desks for all of their plants; if it's plant level all bets are off. Often times you will be sitting next to the cash trader or maybe a row over. Depending on how the firm runs it you can either have a lot of interaction with the trading desk (coordinating phys gas delivery w/ phys power scheduling into the ISO) or minimal (here's the schedule, submit it).
Odds are you will work w/ trading closely. Origination, eh maybe sometimes they might bring you in, but more often probably not--you saying "yes I can schedule that volume to that counterparty" is not really a thing needed to close the deal. You'll probably have to move around to a different role or two if you ultimately want to be a Trader/Originator.
Thanks for the answers. Could you expand a little bit on the interaction with the trading desk? If the interaction is minimal (just submitting the schedule) how does that process eventually result in the physical power being scheduled into the ISO? Is there another layer that the schedule would pass through? Also, would this interaction work differently between say a generating plant and more distributed resources (wind or solar)? Please feel free to correct me if I have any misconceptions/misunderstandings here.
Can only comment on interactions between scheduling and trading at a phys shop/major:
Interactions are generally with the cash traders about the logistics/constraints of the power you are scheduling. These constraints are typically either contractual (i.e. what your PPA, EMA, option etc. allows) or a physical constraint with the transmission (line outage, congestion, cut risks etc.). Logistically what's important is what makes sense for that specific schedule/tag, i.e. the right path, optimizing transmission.
I think a key factor in deciding whether a scheduler would be a good fit to move on into trading follows the same principles that apply to all other phys ops roles. Namely not screwing up and trying to add value or insight with your experience. Make intelligent suggestions showing you truly understand what is happening and that you understand the flow, the portfolio/book, and the market. All this makes the trader's lives easier because in 99% of cases they can already do everything you do, hence why they'll be fast to judge you on fuckups. This extends to the real time desk as well - if you cause them headaches due to crappy scheduling or poor transmission usage, they will bitch to the cash desk or the desk manager.
Not to keep rambling, but reading any other post about gas scheduling or traffic in other commodities does provide the same insight as far as what is expected of you and what is needed to move up into a trading seat.
Stringer.
First question. What type of entity? Vertically integrated utility? Power marketer? Bank? Retail energy provider? Hedge fund? That answer is very important.
Second. It is an ISO style or SERC/WSCC style entity? Or both? One you are pool scheduling and the other is OASIS based "wheeling".
Third. Does the shop trade up-to style congestion bidding/virtuals or straight energy?
Fourth is the entity keeping the lights on or is it to make money?
Finally, what is your end game? Utility trader? Hedge fund? Origination? Structuring? Are you looking for a million dollars per year? Do you mind living in third, fourth tier cities ( and places that are not even on a map) to further your career?
I have been in the business for 25+ years. Everyone combination / derivative of the above can provide a path to success. You need to make a decision on what success means for you.
I know schedulers who are now F500 CFOs, retired traders, heads of divisions and those who have spent 25+ years in EXACTLY the same role.
Take the job only if you like the path.
Namaste.
D.O.U.G.
Thanks for chiming in DOUG, I've broken out my answers but as someone not yet in the industry I may not quite know what I'm talking about.
IPP, mostly renewable assets
Not sure. I'll need to read about the differences in interaction between the types. Would differences in these types of entities heavily impact the type of industry experience one could get in such a role?
I believe only straight energy.
Also not entirely sure, but I suspect more towards the former. Given what I've read - their renewable assets (not sure if this is a general industry trend or not) are mostly commercialized through PPAs, which I would think results in more contract-based obligations than shops that would be looking to exploit live market opportunities.
I am open to any/all of the options you mentioned, probably hedge fund as the least preferred, but not opposed to it either. My compensation expectations aren't that wild - I think if I could get to (endgame) 200K USD all in I'd be more than happy. Location preferences are also very open.
Your point about the variety of possible paths is what makes me nervous about taking the role. My fear really is that should this role not provide the experience that would put me on the path I want, it's a significant investment of time that might be wasted. I'm a few years out of school already, so I feel (perhaps incorrectly) like the clock is ticking. However, that's a whole different topic.
Power scheduling at an IPP, is very close to RT and essentially you will a shot at it soon the line. That said 1 year in and I would look for a latera to a more true trade shop and a RT role there.
Stringer.
if you want, you can DM me.
MD.
I think a year is too short of time to leave, but I see your point of view.
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