Job Description
The New York Independent System Operator (NYISO) manages the efficient flow of electricity on more than 11,000 circuit-miles of high-voltage transmission lines, dispatching power from hundreds of generating units across the state.
The New York Independent System Operator (NYISO) applies cutting-edge technology to operate a reliable electricity system, manage competitive markets for wholesale electricity, and plan for the Empire State’s energy future. The NYISO’s Market Structures department invites applications for a full-time Senior Economist to join our team.
As Senior Economist within NYISO’s Market Design department, you will be a key leader shaping the structure of New York’s wholesale electricity markets. Leveraging advanced econometric methods and microeconomic analysis, you’ll collaborate with stakeholders—including regulators, market participants, and NYISO leadership—to develop innovative market rules that align reliability, economic efficiency, and public policy goals. You will have the opportunity to lead in-depth research, guide cross-functional teams, and influence significant market design evolutions that support New York’s markets, clean energy transition, and reliability.
Successful candidates will be self-motivated professionals who demonstrate effective analytical skills, strong decision making and problem-solving skills, and good judgment within a team-based environment. They must exhibit excellent communication skills and have prior successful experience managing multiple competing priorities. Successful candidates will demonstrate thorough knowledge of and experience with statistical and econometric techniques and principles of economic theory, such as marginalism, game theory and efficient-market hypothesis.
ESSENTIAL DUTIES and RESPONSIBILITIES
- Analyze NYISO markets to identify potential market design flaws and opportunities for improvements in both market effectiveness and efficiency. Such analysis will focus on market outcomes as they relate to various system conditions, market participant behavior, reliability needs and public policies.
- Analyze market evolution recommendations to determine their feasibility and their potential effectiveness to achieve desired Lead the internal evaluation of MMU market design recommendations.
- Lead the development of product-based solutions to problems identified or recognized needs for increased functionality or effectiveness. Lead the development of techniques to analyze energy market data and economic data relevant to NYISO markets.
- Prepare market design concept reports including conclusions from analysis and recommendations for solutions.
- Perform assessments and compile results of impacts to New York consumers from new market solutions.
- Assist in efforts to ensure that the market vision and market design documents remain current and reflects future design opportunities under consideration.
- Mentor and assist Market Design staff on the regulatory history of electricity markets in the United States and New York, and the current market rules. Mentor and provide guidance on Market Design concepts and robust analysis design to Market Design Staff
- Review, assess and develop position papers for Stakeholders capturing market design features of other ISO/RTO markets.
- Monitor national trends and federal, state, and local (NYC) regulatory policies and prepare position papers for NYISO senior management on the potential impacts to and opportunities for NYISO markets.
- Represent NYISO in industry forums and conferences as an independent, unbiased source of information on the design and operation of the wholesale markets in New York.
- Develop potential solutions and market enhancements to further evolve the NYISO markets in order to enhance system reliability, grid resilience, and market efficiency.
- Drive the analysis using prototyping techniques to test market evolution recommendations to determine their feasibility and effectiveness in achieving desired outcomes.
- Perform, and/or direct external resource performance of, economic and statistical analysis to evaluate market design proposals with a focus on market efficiency improvements and market participant behavior.
- Act as a liaison between Market Design and the NYISO market focused business units by facilitating joint markets and business strategy that would inform the creation of the annual master and strategic plans.
QUALIFICATIONS
- Bachelor’s Degree in Economics or related field required. Master’s degree (MA, MS, MBA) in Economics or related field strongly preferred; Doctorate (Ph.D.) in Economics or related field beneficial.
- Seven to ten years related experience; or equivalent combination of education, training and experience in knowledge of electric power utility industry and/or competitive markets, market operations, market economics; or equivalent combination of education, training and experience.
ADDITIONAL REQUIREMENTS
- Ability to read, analyze and interpret common scientific and technical journals, financial reports and legal documents.
- Ability to respond to common inquiries or complaints from market participants, regulatory agencies or members of the business community.
- Ability to write speeches and articles for publication that conform to prescribed style and format.
- Ability to effectively present information to top management, public groups and/or boards of directors.
- Ability to apply mathematical concepts such as exponents, logarithms, quadratic equations permutations, derivatives and integration. Ability to apply mathematical operations to such tasks as frequency distribution, determination of test reliability and validity, analysis of variance, correlation techniques, sampling theory and factor analysis.
- Ability to apply principles of logical or scientific thinking to a wide range of intellectual and practical problems. Ability to deal with nonverbal symbolism (formulas, scientific equations, graphs, musical notes, etc.,) in its most difficult phases. Ability to deal with a variety of abstract and concrete variables.
- Intermediate competency in Windows operating environment using MS Office applications, e-mail and internet programs.
PHYSICAL DEMANDS
While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand, walk, sit and use hands to perform routine office tasks. The employee is occasionally required to reach with hands and arms. The employee must occasionally lift and/or move up to 15 pounds. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
WORK ENVIRONMENT
The noise level in the work environment is usually moderate. Contact with staff and public will occur. Travel may be required to attend and/or conduct meetings, conferences and training. This position may require work on nights, weekends or holidays.
The NYISO offers the flexibility to work both in the office and remotely, providing our employees with an enhanced work life balance. While the majority of the responsibilities of this role can be performed remotely, in most cases, employees will have periodic on-site requirements based on business needs.
The NYISO takes pride in recruiting, developing and retaining highly talented individuals. In addition to competitive salaries, we offer a comprehensive benefits package and innovative reward programs.
All offers of employment will be made contingent upon the successful completion of a drug screening and background check.
The NYISO is an Equal Opportunity Employer and as such, does not discriminate in its hiring or employment practices.
Salary Range
$105,700—$176,400 USD
