Sr Specialist Market Models

INDEPENDENT ELECTRICITY SYSTEM OPERATOR (IESO)

Why join us? 

You’ve got great skills. And you want to use them in an organization where you know what you do every day matters. We get that.
We also know that ensuring Ontarians have access to affordable and reliable power doesn’t happen by accident. So we give you the tools, flexibility and support you need to achieve your goals, and development opportunities to help you grow. You’ll thrive in a collaborative, team-based environment that values your unique skills and experiences – and recognizes that when you do better, we become even better too.  

Who we are 

The Independent Electricity System Operator (IESO) works at the centre of the province’s power system, ensuring Ontarians have access to reliable and cost-effective electricity when and where they need it. We operate the province’s electricity grid 24/7, design, run and oversee the wholesale electricity markets, and plan and prepare to meet Ontario’s electricity needs – now and into the future.

 

The opportunity

The Enabling Resources Program (‘ERP’ or ‘Program’) is a set of projects that will enable key emerging resources, specifically electricity storage, hybrid generation-storage pairings, and small individual or aggregations of dispatchable Distributed Energy Resources into the IESO-administered markets, tools, and processes. The aim of ERP is to allow these resources to more effectively provide required system services and contribute to the safe and reliable operation of the bulk power system in Ontario.

The Program is looking for a Senior Specialist, Market Models with expertise in market algorithms and system optimization to support and introduce changes to our day-ahead market (DAM), pre-dispatch (PD), and real-time (RT) market engines as it relates to storage, hybrid, and distributed energy resources. They will also model and evaluate the impact of changes in the Ontario Electricity market design and/or rules based on key market variables. This role may interact with the external sector, software vendors, and numerous IESO areas such as Enterprise Change, IT, M&R, Settlements and MACD.

The Senior Specialist will lead, and undertake studies, programs or projects related to real or potential impacts based on developments and/or trends in the electricity industry and other energy markets. As well, they will analyze and produce recommendations and reports on the modelling of changes to market design specific to ERP. They will provide guidance, where necessary, regarding the appropriate use and interpretation of information produced by or related to market analysis or research. In addition, they will participate in public stakeholdering of market development recommendations and reports.

What you'll do 

• Perform in-depth analysis of the dispatch, scheduling and optimization algorithms that drive the IESO’s energy markets (DAM, PD and RT). Evaluate, and propose enhancements to support efficiency, reliability, and transparency of the markets.
• Design and execute studies to assess algorithmic behaviour, pricing outcomes, constraint modeling, and system performance under various market outcomes.
• Maintain a current knowledge on developments and/or trends in mathematical models used in the electricity industry and other energy markets. Peruse academic and technical reports, studies, books, journals etc., dealing with various aspects of energy market models. Keep abreast of technological developments and best practices in the industry as they apply to electricity market models.
• Lead and undertake studies, programs or projects related to real or potential impacts based on developments and/or trends in the electricity industry and other energy markets. Model and analyze changes in Ontario Electricity Market design and/or rules on key market variables. Collaborate within the group towards the provision of guidance and direction to management on the relevance of evaluation results to the Ontario electricity market.
• Develop business processes, models/tools, and procedures to evaluate and estimate impact of changes in the Ontario Electricity Market design and/or rules on key market variables. On an on-going basis, assist in reviewing the effectiveness of existing market analysis and reporting processes, systems and procedures. Work with other internal groups to develop models, application software tools, perform acceptance testing and identify business requirements for computer hardware. Develop and implement effective and efficient improvements, as necessary. Communicate with other IESO staff regarding the appropriate use and interpretation of information produced by, or related to, market analysis or research.
• Interpret technical documentation for various audiences to ensure understanding, alignment with market design requirements and achieve buy-in from audience. This will also include interpreting information into market rules and other supporting market documentation.
• Communicate with public and other internal groups as necessary to respond to requests for data and information, while respecting confidentiality criteria. Participate in public stakeholdering of market development initiatives.
• Provide technical advice, guidance, or written reports, as appropriate.
• Work collaboratively with other members of the Markets division to effectively implement the goals of the team within the context of the broader corporate direction. Mentor team members in areas of market models and design.
• Perform other duties as required.

What you need to succeed

Education: 

• Requires knowledge of economics, engineering, operations research or mathematics to conduct market modeling and analytical studies related to the energy industry and the electricity market. Requires deep understanding of the IESO-administered market design. 
• This knowledge is considered to be normally acquired either through the successful completion of four years university education in the appropriate field, or by having the equivalent experience.

Experience:

• Requires demonstrated deep understanding of the design and operation of the IESO-administered market, with particular emphasis on the market calculation engine.
• Requires considerable understanding of developing mathematical models for resource dispatch and pricing in wholesale electricity markets.
• Requires a background that allows for broad thinking and analytical and reasoning skills. Requires demonstrated ability to review vast amounts of information, breaking it down, prioritizing and synthesizing it.
• Requires experience in building relationships and strong interpersonal skills. Requires computer experience including exposure to modeling, optimization mathematics, and desktop software applications.
• Requires good technical knowledge of formulating objective functions and constraints for electricity market models. Requires good technical knowledge of optimization techniques. Requires excellent oral and written communication skills to translate technical content for non-technical audiences, as well as prepare reports or other communication material.
• A period of 8 years and up to 10 years is considered necessary to gain this experience.

What’s in it for you

• A comprehensive total rewards program, including best-in-class benefits and a flexible workplace 
• A challenging, fast-paced and collaborative team environment, where your perspectives and experiences matter 
• Leaders who support your growth and success through regular feedback and coaching 
• The opportunity to work with some of the brightest minds in the industry 
   

Deadline: July 10, 2025

For future reference, please ensure to save a copy of the job description as it will no longer be available once the posting closes.

At the IESO, we know that achieving great results depends on embracing diversity by attracting, developing and retaining people from a wide variety of backgrounds. We do this by ensuring our recruitment and advancement policies are fair and equitable, and by creating an accessible and inclusive environment – one that values every team member’s unique skills and experiences and ensures they have the support they need to achieve their potential. If you require accommodation during the recruitment process, please let us know. 

We thank you for your interest in a career at the IESO, but we will only contact those candidates selected for an interview. 

Note: The successful candidate must be eligible to work in Canada and will be subject to a background check.

The IESO offers a hybrid work model program to most of our employees, based on business needs. Individuals participating in the program can work an average of three days per week remotely within Ontario. It also offers three flex weeks when individuals can work remotely within Ontario . When working in the office, you will be located at our Mississauga or Toronto location.

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