Devin Reaves
Denver,CO
Summary
Experienced Power Trader with a track record of increasing profits through strategic risk management and portfolio optimization. Dedicated to raising profits through calculated risks and exceptional industry knowledge.
Overview
7
7
years of professional experience
1
1
Certification
Work History
Power Resources Manager
Pioneer Community Energy
02.2022 - Current
- Plan and execute the analysis of risk and value around complex transactions and portfolio positions, including power generation, load forecasts, load scheduling, and hedging strategies
- Develops methods and schedules to accomplish assignments, ensuring work is completed in a timely and accurate manner
- Worked closely with the Chief Operating Officer on procurement activities for renewable and conventional energy, resource adequacy and related products and services
- Conducts complex market and portfolio modeling and analysis of Pioneer's power supply position to effectively monitor exposure to adverse market changes
- Coordinates and participates in the Pioneer's resource planning process
- Creates and implements measures to benchmark system implementations, enhancements or modifications by providing documented system specifications, evaluating vendor proposals and recommending appropriate course of action
- Uses a variety of computer software programs to prepare reports, graphs and other materials related to energy resources, finance models and customer statistics
- Maintains liaison with regional resource planning or supply agencies; serves on CalCCA committees as required; evaluates proposals in terms of resource costs, availability and consistency with Pioneer's long-term financial projections and resource needs
- Keeps abreast of customer trends, patterns, and issues; uses data to evaluate current trends and determines if existing policies or procedures should be modified to better meet the needs of the customers
- Deployed successful energy procurement hedging strategy amounting to approximately $500 million in positive mark-to-market value to pass on to ratepayers (as of December 2023).
- Conducts performance auditing and monitoring of Pioneer's contracts
- Facilitated prepay bond transaction with a value of $459,640,000 with Goldman Sachs.
- Evaluates congestion impacts of contracted physical paths and identify financially advantageous paths for nomination to the annual, monthly, and quarterly CAISO allocations and auctions.
Senior Consultant
NewGen Strategies & Solutions
10.2021 - 02.2022
- Conduct Cost of Service studies and Rate Design projects that involve large data sets that are unique to each client/utility
- Consulted multiple CCAs and California Municipal Utilities on Cost of Service, Rate Trends, and NEM
- Perform Utility Asset Valuations/Devaluations including REC and RA capabilities for new/existing units
- Create forward financial plans
- Conduct client meetings
- Analyze M&A opportunities for clients.
Power Trader
Guzman Energy LLC
01.2019 - 07.2021
- Managed trading of multiple energy portfolios and strategies that have grown in P&L year over year
- Analyzed historical pricing relationships to cash and forward pricing for CAISO, WECC, and ERCOT
- Managed relationship with Mexican Counterparty for Mexico trading strategy in CAISO and ERCOT resulting in over $1MM P&L annually.
- Collaborated with the Business Development team in evaluating and analyzing potential investment opportunities
- Collaborated with cross-functional groups including Accounting, Risk Control, and Scheduling to facilitate the tie-out and settlement processes for daily P&L reporting and exposure reporting
- Created and managed forward pricing in CAISO, WECC, and SPP
- Managed forward pricing products that were sent out to outside companies
- Evaluated ongoing market fundamentals and potential economic impact in multiple markets (CAISO, WECC, SPP, ERCOT, and MIDC)
- Managed Carbon hedging in CAISO and REC requirements
- Conducted financial modeling on multiple Power Purchase Agreements
- Mentor to junior traders on fundamentals, programs, forecasting tools, etc
- Experienced with regulation, policies, and tariffs of electricity markets.
Real-Time Power Trader
Guzman Energy LLC
06.2017 - 01.2019
- Managed risk of energy portfolio of hourly exposure through effective asset optimization, physical electricity trading, and transmission procurement in the WECC and CAISO markets
- Created a DART tool to be used by the RT Desk to see risk/opportunity between the DA and RT markets
- Worked in a fast-paced and collaborative work environment
- Analyzed and interpreted power and fuel market fundamentals including thermal and renewable generation, load, transmission, congestion, natural gas supply, transport, and regulatory developments
- Monitored and analyzed available market information to identify marketing and trading developments.
- Created and implemented multiple real time trading strategies resulting in positive results.
Education
Bachelor of Science in Petroleum Engineering -
Colorado School of Mines
Golden, CO05.2017
Skills
- Contract Management
- Strategic Planning
- Financial Analysis
- Trading Strategies
- Portfolio Management
- Market Analysis
- Commodity Trading
- Performance Management
- Operations Management
Additional Information
Running Back, Colorado School of Mines Football team
Certification
FINRA Series 3
Timeline
Power Resources Manager
Pioneer Community Energy
02.2022 - Current
Senior Consultant
NewGen Strategies & Solutions
10.2021 - 02.2022
Power Trader
Guzman Energy LLC
01.2019 - 07.2021
Real-Time Power Trader
Guzman Energy LLC
06.2017 - 01.2019
Bachelor of Science in Petroleum Engineering -
Colorado School of Mines
FINRA Series 3
Similar Profiles
Reynold SaludesReynold Saludes
Boiler Operator at Pioneer Energy LimitedBoiler Operator at Pioneer Energy Limited
Kuldipkumar PrajapatiKuldipkumar Prajapati
Store Supervisor. at Pioneer EnergyStore Supervisor. at Pioneer Energy
YESENIA YANEZYESENIA YANEZ
Medical Assistant at Pioneer Community Care- Clinical SiteMedical Assistant at Pioneer Community Care- Clinical Site