Market Analyst

Purpose of the PositionThe Energy Market Analyst will ensure the availability of reliable, timely market data and by producing routine market analyses and forecasts. These insights will directly support the dispatching teams managing our assets: Battery, Gas engine, Gas Power Plant, Power to Heat. This role will enable ALPIQ to:

Capture detailed market intelligence from local Hungarian markets, particularly GSS (Grid Support Services) markets for balancing capacity and energyOptimize asset dispatch strategies for our expanding portfolio including the new Cogwheel combined gas/battery facilitySignificantly increase revenue streams through informed trading decisionsAlign with successful market analyst models in other ALPIQ countries (Spain, etc. )Position OverviewThe Energy Market Analyst is responsible for monitoring, collecting, and analyzing energy market data relevant to ALPIQ's Hungarian operations, including electricity, GSS, natural gas, and CO2 emissions trading.

This role ensures continuous data availability, creates market analyses and forecasts, and supports pricing strategies for ALPIQ's asset portfolio. Key Metrics: Team Size: 3 people in departmentDirect Reports: 0Tools: Market analysis tools and data subscriptionsAsset Scope: All ALPIQ Hungarian assetsKey ResponsibilitiesMarket Intelligence & Data ManagementContinuously track energy market data (electricity, GSS, natural gas, CO₂ quotas) relevant to the company. Ensure continuity and quality of data collection, collaborating with IT on developing and verifying automated data tools. Monitor and collect comprehensive energy market data covering:

Electricity spot and forward marketsGSS markets - balancing capacity and energyNatural gas markets and storageCO2 emissions trading and certificatesRenewable energy certificates and guarantees of originEnsure data continuity through automated collection systems and manual verificationSupport IT development of data collection tools and regularly audit data integrityMaintain real-time market monitoring for critical trading periodsAnalysis & ForecastingCreate weekly and monthly market analysis reports to present trends, dynamics, and developments. Collaborate with the Commercial Manager to generate key performance indicators (KPIs) for management. Also responsible for ad-hoc analysis when needed. Work with internal and external experts to develop historical and forward-looking market price forecasts.

Produce regular market reports: Weekly operational analyses and monthly strategic assessmentsDevelop market KPIs in collaboration with Commercial Manager for senior managementCreate ad-hoc analyses for specific market events, regulatory changes, or strategic decisionsGenerate price forecasts using historical data analysis and external expert consultationModel market scenarios for different operational strategies and asset configurationsAsset Optimization SupportBased on market data and business strategy, prepare pricing support documentation for company assets (e. g. power plants, consumers). Provide these regularly to relevant colleagues. May also assist in submitting market offers if necessary. Actively support commercial contract activities and collaborate with other departments and business units.

Maintain knowledge-sharing relationships with ALPIQ experts abroad. Develop pricing support documents for ALPIQ's asset portfolio including:

Power plant dispatch optimizationElectric boiler operations (balancing energy participation)Battery storage arbitrage opportunitiesFlexible coordination across generation and storageSupport market bid preparation and participate in bidding processes when required (coverage/substitution)Collaborate with O&M teams on technical constraints and operational parametersStrategic Business DevelopmentParticipate in commercial activity evaluation and development initiativesIdentify market opportunities for enhanced revenue generationSupport contract evaluation with commercial and legal teamsCoordinate with international ALPIQ experts for knowledge sharing and best practice implementationMonitor regulatory developments and assess impact on trading strategiesKey Internal InterfacesOngoing cooperation with O&M team—especially for electric boiler pricingOngoing cooperation with Commercial team, Sales team, Finance Team, Risk managementKey Performance IndicatorsDelivery StandardsWeekly market reports:

Delivered every Monday covering previous week's market dynamicsMonthly strategic analysis: Comprehensive market outlook by 5th working day of monthPricing support updates: Delivered according to operational requirements and market volatilityForecast accuracy: Maintain >85% accuracy on short-term price forecasts (day-ahead)Data availability: 99. 5% uptime on critical market data feedsBusiness Impact MeasuresRevenue optimization: Contribute to measurable improvement in asset dispatch profitabilityMarket capture: Identify and quantify new revenue opportunities Cost efficiency: Reduce external analysis costs through in-house capability developmentRequired Qualifications & ExperienceEssential RequirementsEducation: Master's degree in Economics, Finance, Engineering, or related quantitative fieldExperience: Minimum 2 years in energy markets, commodity trading, or market analysisLanguage:

Business-level English proficiency (verbal and written communication with international teams)Technical Skills: Advanced Excel proficiency (VBA/macros advantageous)Statistical analysis and modeling capabilitiesDatabase management and query toolsEnergy Market ExpertiseMarket Knowledge: Solid understanding of Hungarian electricity markets, balancing mechanisms, and grid servicesRegulatory Awareness: Familiarity with Hungarian energy regulations and EU market frameworksTrading Fundamentals: Understanding of power plant economics, load profiles, and price formationRisk Management: Knowledge of hedging strategies and portfolio optimizationPersonal CompetenciesAnalytical Thinking: Strong numerical and problem-solving abilities with attention to detailIndependence: Capable of making decisions and managing workload without constant supervisionCommunication:

Excellent written and verbal communication skills for diverse stakeholdersAdaptability: Comfortable working in fast-paced environment with changing market conditionsCollaboration: Effective cross-functional teamwork with technical and commercial teamsAdvanced QualificationsAdvanced CapabilitiesProgramming Skills: Python, or similar for advanced analytics and automationMarket Systems: Experience with trading platforms, market data providers Financial Modeling: DCF analysis, real options valuation, portfolio optimizationProject Management: Ability to lead cross-functional initiatives and system implementationsIndustry ExperienceAsset Management: Previous experience with power plant operations or flexible asset optimizationTrading Support: Experience supporting trading desks or commercial teams in energy companiesRegulatory Expertise: Knowledge of Hungarian TSO (MAVIR) rules and proceduresBattery Storage:

Understanding of BESS (Battery Energy Storage Systems) applications and economicsReporting Relationships & CollaborationInternal StakeholdersPrimary: Commercial Manager (direct reporting line)Operations & Techical: Continuous collaboration with O&M team, Asset Trading teamFinancial: Financial controlling and risk management teamsLegal: Contract review and regulatory compliance supportExternal RelationshipsALPIQ International: Optional coordination with market analysts in other marketsMarket Operators: Interface with MAVIR (Hungarian TSO) and other relevant market operatorsData Providers: Manage relationships with market data and analytics vendorsIndustry Networks: Participate in Hungarian energy market associations and forumsDevelopment OpportunitiesSkill DevelopmentALPIQ Academy: Access to internal training programs and certificationsExternal Training:

Support for relevant professional development and industry certificationsInternational Exposure: Opportunities for collaboration and knowledge exchange with ALPIQ teams globallyTechnology Innovation: Involvement in digitalization initiatives and advanced analytics projectsWorking ConditionsEnvironmentLocation: Budapest, Hungary with potential for hybrid working arrangementsHours: Standard business hours with flexibility during critical market periodsTravel: Occasional travel for training, conferences, and coordination with other ALPIQ locationsThis position is critical to ALPIQ's strategic expansion in Hungarian energy markets and represents a unique opportunity to build commercial capabilities in a high-growth market segment.