Chief Economist

PJM
Valley Forge - United States
S: Competitive

The Chief Economist will be responsible for providing analysis of complex operational, economic and accounting data information and metrics on the overall performance of the competitive wholesale electricity market. The Chief Economist will assist the SVP and the Directors in developing the strategic direction of the company's activities in market development by providing analytical support. The Chief Economist will develop reports for PJM Senior Management and the Board of Managers on the overall performance of the various PJM markets and will develop metrics to measure the benefits that the competitive markets provide to PJM members. The Chief Economist will also provide support for the PJM stakeholder process in the areas of market performance, evaluation of potential market rule changes and evaluation of the quality of market data that is provided to PJM members to support the competitive market. This position may also be required to provide expert testimony in support of PJM filings and other proceedings for the FERC and state regulatory commissions.

Essential Duties and Responsibilities:

Develop analysis of PJM markets in order to quantify the competitive performance of the marketplace
Analyze historical market information using business software packages, statistical software tools (e.g. SAS and SQL).
Provide data handling, data analysis and modeling support to the Market Services Division in the area of economic modeling..
Work with computer models and other analysis techniques to simulate and track market performance.
Assist in the analysis of PJM operating rules, standards, procedures and practices in order to detect design flaws.
Assist in the development of policies and procedures to address any identified market issues
Demonstrated abilities of effective analytical and reasoning capabilities, refined verbal skills, writing skills and presentation skills.
Ability to effectively present information to peers, PJM management, and public groups.
Ability to define problems, collect data, establish facts, and draw valid conclusions.
Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
Ability to apply advanced mathematical concepts and operations to various economic problems.
Ability to apply expertise in solving new and complex problems and developing innovative strategies.
Strong facilitation and leadership skills.
Strong interpersonal skills.
Demonstrated ability to plan, execute, and complete complex analyses on schedule and on budget.
An in-depth understanding of economic theory and industrial organization literature.
Ability to effectively work on teams committed to organizational goals.
Demonstrated ability to work independently and to train, guide, or assist others to perform complex assignments.
Strategic analysis for economic purposes for PJM Interconnection
Ad hoc projects as a result of gas and electric market purposes
Research and review tariff changes and interpretation
Participate in and support FERC research requests
Participate in expert witness request for FERC and other regulatory entities as needed
Identify and respond to concerns of interest for the Independent Market Monitor (IMM) on behalf of PJM
Participate in PJM's professional publishing initiative
Support, create awareness and educate PJM employees on economic matters impacting PJM's wholesale markets
Review and analyze operational, market and system constraints, in such, to determine market limitations and impacts
Additional duties as defined by the needs of PJM Interconnection and the EVP, Market Services Division

Characteristics and Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.


Required:

PhD degree in economics or related field
Masters Degree in economics or related field with at least 5 years related experience, or equivalent applicable experience and training.
Demonstrated ability to apply economic and statistical theory to complex market problems.
Demonstrated analytical and reasoning capabilities, refined verbal skills, and presentation skills.
Ability to effectively present information to peers, PJM management, and public groups both in person and in writing.
Ability to define problems, collect data, establish facts, and draw valid conclusions.
Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
Ability to apply advanced mathematical concepts and operations to various economic problems or power system engineering problems.
Ability to apply expertise in solving new and complex problems and developing innovative strategies.
Strong facilitation and leadership skills.
Strong interpersonal skills.
Demonstrated ability to plan, execute, and complete complex analyses on schedule and on budget.
Ability to effectively work on teams committed to organizational goals.
Demonstrated ability to work independently and to train, guide or assist others to perform complex assignments.

Preferred:

Demonstrated ability to use SAS to analyze complex data, to test hypotheses and to draw conclusions.
An in-depth understanding of economic theory and industrial organization literature.
A detailed understanding of power markets.
A detailed understanding of PJM markets and operations.
Demonstrated ability to extract data from complex production databases, use SAS and SQL to analyze complex data, to test hypotheses and to draw conclusions.

Job summary