About Octopus Energy
Backed by Octopus Investments, Octopus Energy is a challenger energy supply company that operates in both the domestic and commercial markets in the UK and in Germany. Through smart use of modern technology, we’re changing the way people consume and buy energy. Octopus Energy has campaigned hard for fair pricing in the market and offers customers a market leading customer service; our brands occupy three of the top four energy supplier positions on Trustpilot and we are the only energy supplier to have ever been recommended by Which? two years in a row.
The Octopus Group has an investment portfolio worth over £7bn and around £2bn invested in renewable energy generation assets. In total, Octopus owns about 40% of the UKs commercial solar generation capacity. Octopus Energy is an ambitious business already making real impact in the market, and offers the benefits of being a vibrant early stage business but with significant financial backing.
The UK energy market is going through unprecedented change with rapid development of renewable energy technologies, the introduction of battery storage, demand side response initiatives and a growing range of in-home energy management technology, as well as the roll-out of Smart meters into consumer’s homes. These developments create significant opportunities for agile market participants that are able to harness the burgeoning data flows and respond quickly to changes in customer demand and market signals.
Octopus’ proprietary platform offers a market leading level of operational efficiency and flexibility to support a wide range of offers and pricing constructs including the only dynamic half hourly tariff in the UK. We are also able to offer white label solutions and work with brands such as Arsenal Football Club and Marks & Spencer plc.
Wholesale electricity markets are increasingly volatile with the roll out of intermittent renewable generation, flexible storage assets and dynamic consumer tariffs. Furthermore, wholesale is the largest cost energy suppliers incur. Closely and intelligently managing our short-term exposure is vital to manage this cost effectively and ensure that the business is not open to undue risk.
This is an important role in the business, working closely with Procurement, Data Science, Finance and many other functions to ensure that risks are closely managed and to support the roll out of intelligent and dynamic tariffs, renewable generation, storage and other flexibility solutions.
Although the role will necessarily involve getting to grips with complex industry processes and language, prior experience in the industry is not a pre-requisite; we provide a supportive learning environment for those with the right inherent capabilities and motivation to succeed.
- Strategically and operationally own the development/execution of the short-term (within month) procurement policy
- Continuously monitor short-term gas and electricity markets and trade execution to ensure that positions are sufficiently covered.
- Provide oversight of domestic demand forecasting
- Work with Machine Learning team to develop and continuously improve forecasting of commercial demand, renewable generation, battery storage and dynamic tariff consumption
- Build granular accuracy reporting around all forecasting activity and detailed understanding behind forecast deviations
- Work with Data Science team to develop short term flexibility optimisation models
- Work closely with Long Term Procurement Analyst, and act as cover on long term hedge execution and risk reporting
- Generate reporting on performance and forecasted risk for Head of Procurement, CFO, Octopus Energy board and other stakeholders.
- Plan and deliver short term procurement processes for new markets and territories
- Continuously challenge processes and deliver improvement/automation, or spec improvements/automation for delivery by the Tech team
Skills and Qualifications
- Knowledge of the Electricity and Gas supply markets or industries where there is a significant commodity input would be an advantage but not essential
- Very bright, highly numerate, ability to handle multidimensional concepts
- Experience with Python and SQL
- Experience managing and reporting on financial risk
- Strong analytical skills coupled with an ability to think strategically
- Excellent verbal and written communication skills
- Flexibility to grow and adapt as the business grows
- Able to challenge with empathy and ‘muck in’ as required at times as we develop the business
- Comfortable with some ambiguity (our world is changing fast)
Employment Type: Full-time, permanent
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