Steepmark, the pre-open memo for power-market risk desks

Field notes

Steepmark describes a recurring memo workflow rather than another trade-to-settlement screen: current exposure is checked against position limits, bilateral PPA credit is paired with offsetting gas-fired heat-rate calls, and weather inputs are turned into named swing scenarios. The displayed sample uses a 14.8% PJM reserve-margin figure and a 233 GW ERCOT interconnection queue, then assigns actions such as buying capacity strips or pre-funding intraday real-time credit lines. The page says delivery occurs by email 30 minutes before the open.