Budget Analyst, Fuel Variance - PSEG
Hicksville, NY
About the Job
Requisition : 78272
PSEG Company: PSEG Long Island
Salary Range : $ 88,400 - $ 140,000
Incentive : PIP 10%
Work Location Category : Hybrid
PSEG operates under a Flexible Work Model where flexible work is offered when job requirements allow. In support of this model, roles have been categorized into one of four work location categories: onsite roles, hybrid roles that are a blend of onsite and remote work, remote local roles that are primarily home-based but require some level of purpose-driven in-person interaction and living within a commutable distance, and remote non-local roles that can be effectively performed remotely with the ability to work in approved states.
PSEG offers a unique experience to our more than 12,000 employees – we provide the resources and opportunities for career development that come with being a Fortune 500 company, as well as the attention, camaraderie and care for one another you might typically associate with a small business. Our focus on combatting climate change through clean energy technology, our new net zero climate vision for 2030 and enhanced commitment to diversity, equity and inclusion; and supporting the communities we serve make this a particularly exciting time to join PSEG.
Job Summary
The Fuel Variance Analyst ensures that the Company consistently, appropriately, and accurately develops and maintains annual resource related operating budget, Fuel and Purchase Power (F&PP), and 8-year and 20-year projections, implements supporting plans, and monitors ongoing performance. This position prepares and monitors that portion of LIPA’s operating budget associated with all power supply related costs, which, in aggregate, represent over 50% of LIPA’s annual revenue. The person in this position supports preparation of power supply related testimony in various proceedings including rate cases.
Job Responsibilities
+ The Fuel Variance Analyst coordinates, collects and evaluates the data from forecasts and back casts of the fuel and purchase power costs, prepares variance and forecasts reports, and researches any significant variance from the approved budget for the current month and year-to-date results. In addition, prepares the summary level variance report for reporting to LIPA. In addition to preparing the operating budget.
+ Responsible for developing and accurately calculating the monthly Power Supply Charge (PSC) that underpins the collection of approximately $2 billion in annual revenue as well as the 6 and 12 month rolling average PSC values used in the balanced billing program. Accurate calculation is critical in order to ensure the timely recovery of costs while minimizing month to month fluctuations in customer bills due to changes in the monthly PSC, which is a direct driver of customer satisfaction metrics. In addition, prepares month-end accruals for various F&PP costs and any re-class entries that may be required.
+ Ensures that all F&PP invoices, accruals and deferrals are correctly recorded in PSEG Long Island’s general ledger. Works with various group (Power Portfolios, Accounting, etc.) to ensure all vendor invoices as well as accounting entries that impact F&PP are properly coded.
+ As part of the Department Budget, the Fuel Variance Analyst prepares monthly update of forecasted expenditures for the department as well as an explanation of expense variances for reporting to the Budgeting and Planning Group. Ensures that all departmental costs are charged to the correct order number. Reviews the month-end accruals prepared by the Executive Assistant for accuracy and assists in preparing any re-class journal entries. Assists in researching any invoice payment issues.
Job Specific Qualifications
Required
+ Bachelor's degree in Engineering, Finance, Accounting, Economics, Business Administration or related field
+ Minimum of 10 years' experience in finance, quantitative analysis, budget management with at least seven years' experience with the utility industry, working for an electric investor-owned or public utility company, a company participating in the electric power markets, as a consultant to a public or private utility, or a similarly situated government policy or regulatory body
+ Experience in the development and use of complex spreadsheets is essential
+ Capacity to meet demanding deadlines and manage multiple projects
+ Ability to translate data into meaningful information to manage the business
+ Strong written and verbal communication skills
+ Collaborative with colleagues at all levels towards mutual objectives
+ Ability to work as an individual contributor and as a team member in a fast-paced, multidisciplinary environment
Desired:
+ Master’s Degree preferred
+ Experience with accounting systems, such as SAP, Ariba and Catalyst is preferred as is experience with Document Management Systems (SharePoint)
+ Strong business acumen, experience bringing insightful commentary to numbers, recognition of trends
+ Excellent analytical skills, conceptual thinking - breaking complex issues into components, capturing all relevant information, utilizing specialists for support, draw conclusions
+ Strong communication skills - ability to develop and share focused information to be used in good business decision making
+ Strong organizational and work planning skills
Minimum Years of Experience
10 years of experience
Education
Bachelor in Engineering or Finance
Bachelors in Accounting or Economics
Certifications
None Noted
Disclaimer
Certain positions at the Company may require you to have access to Part 810-Controlled Information. Under the law, the Company is limited in who it can share this information with and in certain circumstances it is necessary to obtain specific authorization before the Company can share this information. Accordingly, if the position does require access to this information, you must complete a 10 CFR Part 810 Export Control Compliance Nationality Request Form, a copy of which will be provided to you by Talent Acquisition if an offer is made. If there is a need for specific authorization, due to the time it takes to obtain authorization from the government, we will likely not be able to further proceed with an offer.
PSEG is an equal opportunity employer, dedicated to a policy of non-discrimination in employment, including the hiring process, based on any legally protected characteristic. Legally protected characteristics include race, color, religion, national origin, sex, age, marital status, sexual orientation, disability or veteran status or any other characteristic protected by federal, state, or local law in locations where PSEG employs individuals.
As an employee of PSEG you should be aware that during storm restoration efforts, you may be required to perform functions outside of your routine duties and on a schedule that may be different from normal operations.
For all roles, PSEG’s drug and alcohol testing program includes pre-employment testing, testing for cause, and post-incident/accident testing. For employees in federally regulated roles (including positions covered by USDOT, PHMSA, or NRC regulations), this also includes random testing. Although numerous states throughout the country have legalized marijuana/cannabis products recreationally and/or medically, it is prohibited for employees in federally regulated roles. Employees who are hired or transfer into a federally regulated role are subject to drug and alcohol testing, inclusive of marijuana. Please note that the use of CBD products may result in a positive drug test for THC/Marijuana and such use is not a legitimate medical explanation for such a positive result.
PSEG employees must apply for jobs internally through emPower which can be accessed through sharepoint.pseg.com (https://sharepoint.pseg.com/Pages/Home.aspx) by clicking on the emPower icon, then selecting careers. This site (PSEG Careers and Job Openings (https://corporate.pseg.com/careers) ) is strictly for candidates who are not currently PSEG employees, with the exception of PSEG employees who do not have company email addresses.
PSEG is committed to providing reasonable accommodations to individuals with disabilities. If you have a disability and need assistance applying for a position, please call 973-430-3845 or email accommodations@pseg.com.
If you need to request a reasonable accommodation to perform the essential functions of the job, email accommodations@pseg.com . Any information provided regarding a disability will be kept strictly confidential and will not be shared with anyone involved in making a hiring decision.
ADDITIONAL EEO/AA INFORMATION _(Click link below)_
Know your Rights: Workplace Discrimination is Illegal (https://www.eeoc.gov/sites/default/files/2022-10/22-088_EEOC_KnowYourRights_10_20.pdf)
Pay Transparency Nondiscrimination Provision
Diversity at PSEG: Equal Opportunity Employer
PSEG is an equal employment opportunity employer and makes employment decisions, including but not limited to, hiring, firing, promotion, demotion, training, and/or compensation, on the basis of merit. Employment decisions are based on an individual’s qualifications as they relate to the job under consideration. PSEG's policy prohibits unlawful discrimination based on sex (which includes pregnancy, childbirth, breastfeeding, or related medical conditions, the actual sex of the individual, or the gender identity or gender expression), race, color, religion, including religious dress practices and religious grooming practices, sexual orientation, national origin, ancestry, citizenship, marital status, familial status, age, physical disability, mental disability, medical condition, genetic information, protected veteran or military status, or any other consideration made unlawful by federal, state or local laws, ordinances, or regulations.
Need to request an accommodation?
If you have a disability and need assistance submitting your resume, applying for a position or registering for a test, please call 973-430-3845. Any information provided regarding a disability will be kept strictly confidential and will not be shared with anyone involved in making a hiring decision.
PSEG is committed to complying with all applicable laws providing equal employment opportunities. This commitment applies to all persons involved in the operations of the Company and prohibits unlawful discrimination by any employee of the Company, including supervisors and co-workers.
PSEG Company: PSEG Long Island
Salary Range : $ 88,400 - $ 140,000
Incentive : PIP 10%
Work Location Category : Hybrid
PSEG operates under a Flexible Work Model where flexible work is offered when job requirements allow. In support of this model, roles have been categorized into one of four work location categories: onsite roles, hybrid roles that are a blend of onsite and remote work, remote local roles that are primarily home-based but require some level of purpose-driven in-person interaction and living within a commutable distance, and remote non-local roles that can be effectively performed remotely with the ability to work in approved states.
PSEG offers a unique experience to our more than 12,000 employees – we provide the resources and opportunities for career development that come with being a Fortune 500 company, as well as the attention, camaraderie and care for one another you might typically associate with a small business. Our focus on combatting climate change through clean energy technology, our new net zero climate vision for 2030 and enhanced commitment to diversity, equity and inclusion; and supporting the communities we serve make this a particularly exciting time to join PSEG.
Job Summary
The Fuel Variance Analyst ensures that the Company consistently, appropriately, and accurately develops and maintains annual resource related operating budget, Fuel and Purchase Power (F&PP), and 8-year and 20-year projections, implements supporting plans, and monitors ongoing performance. This position prepares and monitors that portion of LIPA’s operating budget associated with all power supply related costs, which, in aggregate, represent over 50% of LIPA’s annual revenue. The person in this position supports preparation of power supply related testimony in various proceedings including rate cases.
Job Responsibilities
+ The Fuel Variance Analyst coordinates, collects and evaluates the data from forecasts and back casts of the fuel and purchase power costs, prepares variance and forecasts reports, and researches any significant variance from the approved budget for the current month and year-to-date results. In addition, prepares the summary level variance report for reporting to LIPA. In addition to preparing the operating budget.
+ Responsible for developing and accurately calculating the monthly Power Supply Charge (PSC) that underpins the collection of approximately $2 billion in annual revenue as well as the 6 and 12 month rolling average PSC values used in the balanced billing program. Accurate calculation is critical in order to ensure the timely recovery of costs while minimizing month to month fluctuations in customer bills due to changes in the monthly PSC, which is a direct driver of customer satisfaction metrics. In addition, prepares month-end accruals for various F&PP costs and any re-class entries that may be required.
+ Ensures that all F&PP invoices, accruals and deferrals are correctly recorded in PSEG Long Island’s general ledger. Works with various group (Power Portfolios, Accounting, etc.) to ensure all vendor invoices as well as accounting entries that impact F&PP are properly coded.
+ As part of the Department Budget, the Fuel Variance Analyst prepares monthly update of forecasted expenditures for the department as well as an explanation of expense variances for reporting to the Budgeting and Planning Group. Ensures that all departmental costs are charged to the correct order number. Reviews the month-end accruals prepared by the Executive Assistant for accuracy and assists in preparing any re-class journal entries. Assists in researching any invoice payment issues.
Job Specific Qualifications
Required
+ Bachelor's degree in Engineering, Finance, Accounting, Economics, Business Administration or related field
+ Minimum of 10 years' experience in finance, quantitative analysis, budget management with at least seven years' experience with the utility industry, working for an electric investor-owned or public utility company, a company participating in the electric power markets, as a consultant to a public or private utility, or a similarly situated government policy or regulatory body
+ Experience in the development and use of complex spreadsheets is essential
+ Capacity to meet demanding deadlines and manage multiple projects
+ Ability to translate data into meaningful information to manage the business
+ Strong written and verbal communication skills
+ Collaborative with colleagues at all levels towards mutual objectives
+ Ability to work as an individual contributor and as a team member in a fast-paced, multidisciplinary environment
Desired:
+ Master’s Degree preferred
+ Experience with accounting systems, such as SAP, Ariba and Catalyst is preferred as is experience with Document Management Systems (SharePoint)
+ Strong business acumen, experience bringing insightful commentary to numbers, recognition of trends
+ Excellent analytical skills, conceptual thinking - breaking complex issues into components, capturing all relevant information, utilizing specialists for support, draw conclusions
+ Strong communication skills - ability to develop and share focused information to be used in good business decision making
+ Strong organizational and work planning skills
Minimum Years of Experience
10 years of experience
Education
Bachelor in Engineering or Finance
Bachelors in Accounting or Economics
Certifications
None Noted
Disclaimer
Certain positions at the Company may require you to have access to Part 810-Controlled Information. Under the law, the Company is limited in who it can share this information with and in certain circumstances it is necessary to obtain specific authorization before the Company can share this information. Accordingly, if the position does require access to this information, you must complete a 10 CFR Part 810 Export Control Compliance Nationality Request Form, a copy of which will be provided to you by Talent Acquisition if an offer is made. If there is a need for specific authorization, due to the time it takes to obtain authorization from the government, we will likely not be able to further proceed with an offer.
PSEG is an equal opportunity employer, dedicated to a policy of non-discrimination in employment, including the hiring process, based on any legally protected characteristic. Legally protected characteristics include race, color, religion, national origin, sex, age, marital status, sexual orientation, disability or veteran status or any other characteristic protected by federal, state, or local law in locations where PSEG employs individuals.
As an employee of PSEG you should be aware that during storm restoration efforts, you may be required to perform functions outside of your routine duties and on a schedule that may be different from normal operations.
For all roles, PSEG’s drug and alcohol testing program includes pre-employment testing, testing for cause, and post-incident/accident testing. For employees in federally regulated roles (including positions covered by USDOT, PHMSA, or NRC regulations), this also includes random testing. Although numerous states throughout the country have legalized marijuana/cannabis products recreationally and/or medically, it is prohibited for employees in federally regulated roles. Employees who are hired or transfer into a federally regulated role are subject to drug and alcohol testing, inclusive of marijuana. Please note that the use of CBD products may result in a positive drug test for THC/Marijuana and such use is not a legitimate medical explanation for such a positive result.
PSEG employees must apply for jobs internally through emPower which can be accessed through sharepoint.pseg.com (https://sharepoint.pseg.com/Pages/Home.aspx) by clicking on the emPower icon, then selecting careers. This site (PSEG Careers and Job Openings (https://corporate.pseg.com/careers) ) is strictly for candidates who are not currently PSEG employees, with the exception of PSEG employees who do not have company email addresses.
PSEG is committed to providing reasonable accommodations to individuals with disabilities. If you have a disability and need assistance applying for a position, please call 973-430-3845 or email accommodations@pseg.com.
If you need to request a reasonable accommodation to perform the essential functions of the job, email accommodations@pseg.com . Any information provided regarding a disability will be kept strictly confidential and will not be shared with anyone involved in making a hiring decision.
ADDITIONAL EEO/AA INFORMATION _(Click link below)_
Know your Rights: Workplace Discrimination is Illegal (https://www.eeoc.gov/sites/default/files/2022-10/22-088_EEOC_KnowYourRights_10_20.pdf)
Pay Transparency Nondiscrimination Provision
Diversity at PSEG: Equal Opportunity Employer
PSEG is an equal employment opportunity employer and makes employment decisions, including but not limited to, hiring, firing, promotion, demotion, training, and/or compensation, on the basis of merit. Employment decisions are based on an individual’s qualifications as they relate to the job under consideration. PSEG's policy prohibits unlawful discrimination based on sex (which includes pregnancy, childbirth, breastfeeding, or related medical conditions, the actual sex of the individual, or the gender identity or gender expression), race, color, religion, including religious dress practices and religious grooming practices, sexual orientation, national origin, ancestry, citizenship, marital status, familial status, age, physical disability, mental disability, medical condition, genetic information, protected veteran or military status, or any other consideration made unlawful by federal, state or local laws, ordinances, or regulations.
Need to request an accommodation?
If you have a disability and need assistance submitting your resume, applying for a position or registering for a test, please call 973-430-3845. Any information provided regarding a disability will be kept strictly confidential and will not be shared with anyone involved in making a hiring decision.
PSEG is committed to complying with all applicable laws providing equal employment opportunities. This commitment applies to all persons involved in the operations of the Company and prohibits unlawful discrimination by any employee of the Company, including supervisors and co-workers.
Source : PSEG