Job description
Texas
HOUSTON(USA) TotalEnergies Gas & Power North America, Inc. Strategy Economics Business Fixed term position Minimum 10 years
Context & Environment
The United States is the world's second-largest power market, operating through seven Independent System Operators (ISOs), each with distinct market structures, pricing mechanisms, and regulatory frameworks. As one of the fastest-growing energy markets globally, the U.S. is expected to represent approximately 30% of TotalEnergies' Integrated Power business by 2030, making it a key pillar of the Company's growth strategy.
To support this ambition, TotalEnergies is expanding and optimizing a diversified portfolio of generation assets, including solar, wind, thermal generation, and Battery Energy Storage Systems (BESS), alongside a growing portfolio of long-term power contracts.
As Manager, Long-Term Pricing & Structuring, you will play a critical role in shaping the long-term commercial strategy and value creation of this portfolio. You will be responsible for developing and maintaining pricing and valuation models for assets and long-term contracts, supporting investment and monetization decisions, and assessing the value and risk of positions held within the Long-Term Portfolio.
In this high-impact role, you will:
- Develop and maintain robust valuation models for power assets, long-term contracts, and portfolio exposures.
- Support strategic investment decisions, M&A activities, and Final Investment Decisions (FIDs) through long-term market and valuation analyses.
- Partner with Trading, Asset Management, Finance, and Investment teams to assess portfolio value and identify optimization opportunities.
- Provide senior management and key stakeholders with actionable insights on long-term valuations, market outlooks, and portfolio performance.
- Prepare and support internal governance committees and cross-functional forums, communicating key analyses, recommendations, and business impacts.
- Lead and organize Long-Term Pricing & Structuring activities to ensure effective execution and continuous improvement.
- Develop innovative solutions to address complex valuation, risk management, and market challenges across a long-term planning horizon exceeding three years.
This role offers a unique opportunity to influence the future value, risk profile, and commercial performance of a rapidly growing power portfolio while working at the intersection of trading, asset management, investments, and corporate strategy.
Activities
The Manager, Long-Term Pricing & Structuring is responsible for the operational management of pricing and valuation activities across TotalEnergies' Long-Term Portfolio and asset companies. This role provides the analytical and commercial framework needed to assess portfolio value, manage long-term market exposures, and support strategic decision-making across investments, asset management, and commercial activities.
Key Responsibilities
- Define, own, and continuously optimize the hedging strategy for the Long-Term Portfolio, ensuring alignment with commercial objectives and risk management policies.
- Structure and implement merchant exposure hedging solutions in partnership with Asset Management teams, including Renewable Energy Certificates (RECs) and other environmental products.
- Measure, monitor, and analyze merchant exposures, providing sensitivity analyses, stress testing, and scenario assessments to support decision-making.
- Manage volumetric risks arising from weather variability, asset outages, production uncertainty, and evolving market conditions.
- Support the negotiation, structuring, and valuation of long-term power contracts with asset owners, counterparties, and customers.
- Develop and deliver long-term energy margin forecasts and market outlooks to support financial planning, M&A transactions, Final Investment Decisions (FIDs), and strategic portfolio reviews.
- Identify and recommend asset monetization strategies, revenue optimization opportunities, and portfolio restructuring initiatives to maximize value creation.
- Price long-term contracts and structured transactions to be managed within the Long-Term Portfolio.
- Develop, maintain, and enhance quantitative models related to asset valuation, energy margin forecasting, contract pricing, portfolio optimization, and risk analysis.
- Collaborate closely with Trading, Asset Management, Finance, Investments, and Risk teams to ensure consistency of assumptions, methodologies, and strategic objectives.
Accountabilities
As Manager, Long-Term Pricing & Structuring, you will be accountable for the valuation, optimization, and long-term commercial performance of assets and contracts entering the Long-Term Portfolio.
Success in this role will be measured by:
- The accuracy, robustness, and reliability of asset and contract valuation methodologies and outputs.
- Effective optimization of the Long-Term Portfolio through strategic hedging, structuring, and portfolio management decisions.
- Delivery of high-quality market intelligence, forecasting, and analytical insights that support investment, financing, and commercial decisions.
- Identification and execution of value-enhancing opportunities related to asset monetization, contract structuring, and portfolio optimization.
- Effective management of long-term market, merchant, and volumetric risks.
- Development and maintenance of industry-leading pricing, valuation, and portfolio management models.
- Successful collaboration with cross-functional stakeholders, including Trading, Asset Management, Finance, Commercial, Investments, and Senior Leadership teams.
Qualifications & Experience
What You Bring
- Master's degree in Economics, Finance, Engineering, Mathematics, Energy Markets, or a related discipline.
- 10-15 years of experience in asset valuation, energy markets, risk management, portfolio management, structured transactions, or long-term commercial strategy within the energy sector.
- Deep knowledge of U.S. and wholesale power markets, including pricing mechanisms, market fundamentals, regulatory frameworks, and long-term market dynamics.
- Strong understanding of power generation assets and revenue drivers, including combined cycle gas turbines (CCGT), renewable energy assets, energy storage, and merchant market exposures.
- Proven expertise in valuation methodologies, long-term forecasting, and risk analysis to support investment, financing, and commercial decision-making.
- Strong analytical and quantitative capabilities, with experience developing and applying complex pricing, valuation, and portfolio optimization models.
- Advanced statistical analysis and modeling skills, with proficiency in Excel and quantitative programming tools such as Python, R, MATLAB, BID3, Plexos, PSO, or similar platforms.
- Excellent communication and presentation skills, with the ability to translate complex analytical concepts into actionable insights for both technical and non-technical stakeholders.
- Ability to influence decision-making and build strong relationships across Trading, Asset Management, Finance, Investments, Risk, and Senior Leadership teams.
Preferred Qualifications
- Experience supporting investment evaluations, mergers and acquisitions (M&A), project financing, and Final Investment Decisions (FIDs).
- Demonstrated expertise in economic analysis, asset valuation, and financial modeling for large-scale energy infrastructure projects.
- Proven ability to operate effectively within complex, highly matrixed, and cross-functional organizations.
- Experience with long-term power contracts, structured products, hedging strategies, and merchant risk management.
- Knowledge of renewable energy markets, environmental products, Renewable Energy Certificates (RECs), and evolving energy transition market structures.