Budget Specialist, Fuel Variance

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 Specialist 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.Prepares summary level variance report for reporting to LIPA
• 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 FPP costs and any reclass entries that may be required
• Ensures that all FPP invoices accruals and deferrals are correctly recorded in PSEG Long Islands general ledger Works with various group Power Portfolios Accounting etc to ensure all vendor invoices as well as accounting entries that impact FPP are properly coded.
• 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 for accuracy and assists in preparing any reclass journal entries Assists in researching any invoice payment issues

Job Specific Qualifications

Required

• Bachelor’s degree in Engineering, Finance, Accounting, Economics or Business Administration or related fields.
• Minimum of 3 years’ experience in one of the following areas: financial analysis, quantitative analysis or budget management
• Minimum three years’ experience within the utility industry in a role participating in the electric power markets, or a similarly situated government policy or regulatory body
• Experience in the development and use of complex spreadsheets
• Capacity to meet demanding deadlines and manage multiple projects
• Ability to translate data into meaningful information to manage the business
• 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.
• Demonstrated 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
• Professional communication skills - ability to develop and share focused information to be used in good business decision making
• This position requires driving to company locations and off-site assignments and events, applicants must possess a valid US driver’s license with a safe and satisfactory driver history

Immigration Support will not be provided in association with this position now or in the future.

Desired

• Master’s Degree
• Experience with accounting systems, such as SAP, experience with business intelligence tools and
• Document Management Systems (SharePoint)
• Strong organizational and work planning skills

Minimum Years of Experience

Education

Certifications

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.