Senior Settlement Analyst

Fervo Energy is building the most cost-effective, repeatable geothermal power plants in the world. Achieving this mission requires disciplined financial operations, strong controls, audit-ready documentation, and scalable processes that support Fervo’s transition into a public-company operating environment. Joining Fervo means operating at the intersection of energy infrastructure, growth-stage execution, and public-company readiness, where reliability, accountability, and continuous improvement are foundational.

We are hiring a Senior Settlement Analyst to own the end-to-end settlement cycle for Fervo's generation assets — from ISO market settlement statements through PPA invoicing and revenue recognition. You will be the authoritative source on what we are owed, what we owe, and why, reconciling ISO charge codes and meter data against contract terms, resolving discrepancies with counterparties and the ISO, and supporting month-end close and external audit.

This is a high-visibility, high-trust role on a small team. You will work daily with Commercial, Operations, Accounting, and Legal, and your analysis will directly inform revenue reported to our leadership, lenders, and investors. The right person is equally comfortable in the details of a ISO settlement statement and in a conversation explaining a variance to a counterparty or auditor. There is meaningful room to improve how this work gets done — we expect this person to automate and strengthen the process, not just execute it.

Requirements

Responsibilities

• Own the monthly ISO settlement cycle for Fervo's generating assets — validate initial, recalculation, and final settlement statements; reconcile charge codes, meter and telemetry data, and scheduling coordinator invoices; and confirm energy, ancillary services, congestion, and uplift charges are correct.
• Calculate and validate settlements under long-term power purchase agreements and related commercial contracts. Interpret contract terms — pricing, availability and performance guarantees, curtailment provisions, environmental attributes and RECs, and true-up mechanics — and translate them into accurate monthly invoices and accruals.
• Prepare and issue customer invoices, review counterparty invoices and statements, and track receivables and payables through to cash. Investigate variances between expected and settled amounts and drive them to resolution.
• Identify, document, and pursue settlement disputes with the ISO, scheduling coordinators, and counterparties within applicable timelines. Maintain a clear record of dispute status, exposure, and outcomes.
• Deliver settlement-based revenue accruals, journal entries, and reconciliations on the close calendar. Explain month-over-month variances and support revenue recognition conclusions with clear, reviewable workpapers.
• Maintain and operate settlement controls in line with SOX requirements, including documented review, reconciliation, and approval steps with clear audit trails. Serve as a primary point of contact for external auditors and internal control testing on settlement processes and help design controls as the company scales.
• Build and maintain queries, models, and dashboards that turn settlement and market data into usable analysis. Replace manual, spreadsheet-bound steps with repeatable, well-documented processes and help select and implement settlement system capabilities as the portfolio grows.
• Provide settlement insight to Commercial, Operations, and Finance — revenue drivers, curtailment and congestion impacts, contract performance against guarantees, and forecast-versus-actual variance analysis.
• Document settlement procedures and calculation methodologies and act as a knowledge resource and informal mentor for analysts joining the team.

Qualifications

Required

• Bachelor's degree in accounting (or a closely related field with a substantive accounting concentration).
• Five or more years of progressive experience in energy settlements, including hands-on responsibility for ISO market settlements — settlement statements, charge codes, meter data, and scheduling coordinator interactions.
• Demonstrated experience settling long-term power purchase agreements, including reading contract language and independently building the calculation it requires.
• Working knowledge of ISO market design, tariff structure, and settlement timelines, including the dispute and recalculation process.
• Strong revenue accounting foundation — accruals, journal entries, reconciliations, and month-end close discipline in a control-conscious environment.
• Advanced Excel skills, including large-dataset work, complex formulas, and pivot-based analysis.
• SQL proficiency sufficient to query, join, and validate settlement and market data independently.
• Exceptional attention to detail paired with the judgment to know which variances matter, and the ability to explain a complex settlement result clearly in writing and in conversation.

Preferred

• Active CPA license (or CPA candidate with exams substantially complete).
• Experience operating within a SOX control environment and supporting external audit, including walkthroughs and control testing of settlement processes.
• Power BI (or comparable BI tooling) experience building recurring settlement and revenue reporting.
• Exposure to ISO/RTO markets — CAISO, ERCOT, WECC bilateral markets, or others — and to geothermal, renewable, or storage asset settlement.
• Experience with Bid-to-Bill System (e.g., PCI, Adapt2), ETRM, or energy accounting platforms, and with ERP integration (e.g., NetSuite, SAP, or similar).
• Familiarity with renewable energy credits, resource adequacy, and environmental attribute tracking and settlement.
• Python or comparable scripting experience for data automation.
• Experience using and/or building with AI tools (e.g., Claude, ChatGPT, or similar)