Responsible for transfers, receipts and payments of Emissions and Renewable Energy Credits for all Emissions related trading deals. Create month end Mark-to-Market entries for all open trading positions as well as inventory positions, along with purchases and sales settled within the month. Settled NYMEX Clearport trades as well as SO2, Nox, and various state emissions trades (NJ1&2, NJSolar, TX, CT, MA, and ME Recs) by researching trades on various electronic trading platforms. In concert with Mid-Office trading book personnel, tie out the Profit and Loss positions for the month and create Month-end closing entries in SAP. Accounting lead analyst for the Energy East Alliance natural gas asset optimization trading acquisition. Responsible for month-end close procedures involving profit and loss, supervision of two accounting analysts and daily communication with the Mid-Office as it pertained to the trading optimization of assets within the Energy East Alliance trading consortium (a group of five northeast US utilities). Optimization based around the gas pipeline transportation contracts held by the Energy East Alliance, purchases and sales were traded via ICE, transportation was scheduled by BP and was tied out within BP’s gas accounting system using the Alliance’s transportation statements from various pipelines. Responsible for natural gas storage park and loan activity reconciliations along with natural gas storage physical and virtual reconciliations. Natural gas counterparty settlements resolution involving sales, purchases, sales and purchase price discrepancies and sales and purchase volume discrepancies. Resolution of these issues via pipeline statement actualization. Price discrepancies resolution by consulting contract terms, trader blotter/logs, consulting traders and/or schedulers and asking counterparty for documentation that supports their invoiced price or price they are expecting to pay on the 20th of the month.
Additionally, NGL trading accounting experience (1 year) related to tanker deliveries primarily at the NGL Lake Charles, LA terminal. Accounting for deliveries, volumes and pipeline actualization along with settlements with customers and payment to tanker companies. Frequent interaction with traders, schedulers and tanker companies in order to accurately account for deliveries. Acquired/Interpreted tanker bills of lading, NGL terminal off-loading documentation and terminal to pipeline transfer documentation.
Responsible for setting up accounting system change specifications for gas accounting software in order to implement new asset management agreement controlling approximately $20,000,000 in assets resulting in:
Increased accounting productivity by reducing accounting overtime to zero (from a high of 20 hours per month between 2 employees).
Reduction of head count by 1 employee after the implementation period.
Shorter accounting close period (from 5 days to 3 days).
A system generated P&L aiding the mid-office in reducing their close process from 6 days to 3 days.
Greater accountability in regards to profit and loss as well as accuracy of gas accounting volumetrics, receivables, payables and gas storage balance reconciliations.