Senior Settlement Analyst
Role Overview
The Senior Settlement Analyst owns the end-to-end settlement cycle for Fervo's generation assets, from ISO market statements through PPA invoicing and revenue recognition.
The role reconciles ISO charge codes and meter data against contract terms, resolves discrepancies with counterparties and the ISO, and supports month-end close and external audit.
The analyst works with Commercial, Operations, Accounting, and Legal; the work informs revenue reported to leadership, lenders, and investors.
The role is expected to improve and automate settlement processes as well as execute them.
Key Skills for This Role
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About Fervo Energy
Fervo Energy develops next-generation geothermal resources intended to provide affordable, reliable, around-the-clock carbon-free energy.
The company combines horizontal drilling, fiber-optic sensing, and reservoir engineering to develop utility-scale enhanced geothermal systems.
Its Cape Station project is planned to deliver 500 MW, and the company reports a development pipeline exceeding 50 GW.
Position description
The Senior Settlement Analyst owns the end-to-end settlement cycle for Fervo's generation assets, from ISO market statements through PPA invoicing and revenue recognition.
The role reconciles ISO charge codes and meter data against contract terms, resolves discrepancies with counterparties and the ISO, and supports month-end close and external audit.
The analyst works with Commercial, Operations, Accounting, and Legal; the work informs revenue reported to leadership, lenders, and investors.
The role is expected to improve and automate settlement processes as well as execute them.
Responsibilities
- Own monthly ISO settlements, validating initial, recalculation, and final statements; reconcile charge codes, meter and telemetry data, and scheduling coordinator invoices.
- Confirm energy, ancillary services, congestion, and uplift charges.
- Calculate and validate long-term PPA and related contract settlements; interpret commercial terms and prepare monthly invoices and accruals.
- Prepare customer invoices, review counterparty invoices and statements, and track receivables and payables through cash.
- Investigate settlement variances and resolve discrepancies with relevant parties.
- Identify and pursue timely disputes with the ISO, scheduling coordinators, and counterparties; document status, exposure, and outcomes.
- Deliver revenue accruals, journal entries, and reconciliations on the close calendar; explain monthly variances and support revenue recognition with reviewable workpapers.
Required qualifications
- Bachelor's degree in accounting or a closely related field with a substantive accounting concentration.
- At least 5 years of progressive energy settlements experience, including hands-on ISO settlement work with statements, charge codes, meter data, and scheduling coordinators.
- Experience settling long-term PPAs, reading contract language, and independently building settlement calculations.
- Working knowledge of ISO market design, tariff structure, settlement timelines, disputes, and recalculations.
- Strong revenue accounting foundation, including accruals, journal entries, reconciliations, and month-end close in a control-conscious environment.
- Advanced Excel skills for large datasets, complex formulas, and pivot-based analysis; SQL proficiency to query, join, and validate market data independently.
- Strong attention to detail, sound variance judgment, and ability to explain complex settlement results clearly.
Preferred qualifications
- Active CPA license or CPA candidate with exams substantially complete is preferred.
- SOX control environment and external audit experience, including walkthroughs and settlement process control testing, are preferred.
- Power BI or comparable BI reporting experience is preferred.
- Exposure to ISO/RTO markets, including the listed CAISO, ERCOT, or WECC markets, is preferred.
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