Market Analyst

Base is America’s next-generation power company. We’re rebuilding the foundation of modern civilization–electricity–by deploying a vast network of distributed batteries that is transforming today’s fragile, centralized grid into a resilient and abundant system. We are engineers, operators, and creatives solving some of the most complex, interdisciplinary challenges of our time.

Base’s Risk & Trading team turns a fleet of distributed batteries and the households we serve into a power business that makes money. As a Market Analyst, you’ll know how much Base is earning, where it could lose money, and how it will make money in the next market.

You’ll own P&L (profit and loss) reporting and risk tracking across our battery fleet and retail operations. You’ll build the pricing models behind what we charge members, recommend hedges, and work with Finance, Growth and Legal & Policy to figure out how Base makes money in each new market. Base already does this in ERCOT. Your first job is to do it in PJM.

This role suits someone with a few years of experience in power markets, retail energy, or a related analytical field. You’ll own real decisions early.

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  Build a bottoms-up retail pricing model for PJM that builds upon our ERCOT model.

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  Bring PJM into our risk system and P&L reporting, so we know the margin we earn and how to buy supply.

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  Identify new market opportunities and work closely with stakeholders from Finance, Growth and Legal & Policy teams to bring them to reality.

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  Recommend changes to Base’s hedging strategy in ERCOT and PJM, and track our exposure against risk limits.

• Energy markets knowledge: you understand wholesale market basics in ERCOT and PJM, including how power is bought, hedged and settled. You know how retail pricing and operations work.

• Commercial sense: you understand how a retail offer makes or loses money. You can explain the cost to supply it, the margin on it, and the risk in between.

• Risk and statistics: you think in distributions, not point forecasts. You know power prices are tail heavy. Basic statistics is enough.

• Coding and SQL: you build reports and models in Python (or another language), pull your own data with SQL, and work through a problem independently.

Nice to have: experience at a retail energy provider, utility supply desk, or trading middle office.

Base’s Risk & Trading team turns the grid-service capability of our distributed battery fleet into revenue. That means building and defending the models that decide which markets and products Base participates in, from real-time arbitrage to multi-year distribution deals. The team’s calls carry real weight - a mis-modeled coincident peak or an unvetted market opinion shows up directly in Base’s book. You’ll work alongside traders, market operations engineers, and policy leads who bring the same rigor to distribution-scale energy that a trading desk brings to wholesale power.

Please note: Base is a startup, which means priorities shift and evolve quickly. Your role may expand or change based on the needs of the business at any given time, so the responsibilities listed may not be exhaustive.

• First Principles Thinking: Question assumptions. Principles > rules.

• Operate at Base Pace: Focus on what matters, act quickly, and learn by doing.

• Give & Get Feedback: Be direct, be humble, and maintain a growth mindset.

• Everyone’s an Owner: Follow through on commitments and own results.

• Strong Opinions, Loosely Held: Drive clarity and make calls with imperfect information.

• Committed to the Mission: Rebuilding the grid is a big challenge. We work hard because we care deeply about the impact we’re creating. We work in-person. It’s not a 9-to-5. We are all-in.

• Fun & Optimism Coexist with Grit: Collaboration and celebration coincide with the intensity of building real things.