Follow and forecast electricity and fuel prices.
What does an Energy Market Analyst do?
An Energy Market Analyst helps employers, clients, and customers understand and control their energy costs. For the average family of four, rising gas prices mean hardships in the form of high transportation, food, housing, healthcare, and clothing costs. Now, imagine your family of four is a company of hundreds, a city of thousands, or an industry of millions. It’s easy to see how quickly prices at the pump can impact the bottom line-at home, at work, and even at city hall.
As an Energy Market Analyst, therefore, your job is extremely important: Employed by governments, banks, energy companies, and private enterprises-for example, airlines and manufacturers, for which profits often are correlated with fuel prices-you’re an Economic Analyst who studies and interprets the energy market, including the generation and consumption of electricity, natural gas, and fuel.
Your duties as an Energy Market Analyst typically include projecting short- and long-term energy requirements, and forecasting energy prices based on supply and demand. You also prepare financial statements and budgets, with a focus on energy-related line items. Additionally, you consult on fuel and power purchases, and negotiate contracts with energy vendors. On top of all that, you design energy risk management strategies, and create reports on energy consumption, spending, and sales.
If you work for governments and corporations, your focus is probably on controlling energy costs. If you work for energy companies and consultancies, on the other hand, your focus is probably on pricing and positioning energy products. In both cases, however, you’re paid to watch the fuel and power markets with an Economist ‘s eye, offering intelligence and analysis on energy-related risks and rewards.