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Base Power is rebuilding America's electricity grid through a distributed battery network that transforms centralized infrastructure into a resilient, abundant system. The Risk & Trading team monetizes this fleet and retail operations by building pricing models, managing risk, and identifying market opportunities.
As Market Analyst, you will own P&L reporting and risk tracking across Base's battery fleet and retail operations. You'll build bottoms-up retail pricing models (starting with PJM, building on existing ERCOT work), integrate new markets into the risk system and P&L reporting infrastructure, identify new market opportunities in collaboration with Finance, Growth, and Legal & Policy teams, and recommend hedging strategy changes while tracking exposure against risk limits.
Base operates in ERCOT today and is expanding into PJM. Your first major project is bringing PJM to the same level of analytical rigor and profitability tracking as the existing ERCOT operation. You'll work alongside traders, market operations engineers, and policy leads who apply institutional trading-desk rigor to distribution-scale energy. Your modeling decisions directly impact Base's book and revenue.
Base is a venture-backed startup with a mission-driven culture. The company emphasizes first-principles thinking, rapid iteration, direct feedback, and ownership. Work is in-person and intensive; this is not a 9-to-5 role.
REQUIREMENTS:
- Energy markets knowledge: understanding of wholesale market basics in ERCOT and PJM, including power procurement, hedging, and settlement; familiarity with retail pricing and operations
- Commercial acumen: ability to model and explain retail offer profitability, cost to supply, margins, and embedded risks
- Risk and statistics: comfort thinking in distributions rather than point forecasts; understanding of tail-heavy power price distributions; basic statistics competency
- Coding and SQL: ability to build reports and models in Python or similar language; SQL data retrieval; independent problem-solving
- A few years of experience in power markets, retail energy, or related analytical field
NICE TO HAVE:
- Experience at a retail energy provider, utility supply desk, or trading middle office
