We apply electric system dispatch and planning models in electricity market price forecasting, analysis of environmental regulations and policies, market power and mergers, rate cases, and resource planning. Synapse licenses Global Energy Solutions’ electric system simulation models, and has applied them in analyses of electric system operations in almost every region of the United States. We also license and use STRATEGIST from New Energy Associates. We are familiar with PROMOD, PROSCREEN, PROSYM, EGEAS, GE MAPS, IPM, and other electric system dispatch and planning tools. Our modeling of electric power system dispatch is generally done on a very detailed chronological, unit-specific basis.

Synapse has also developed its own model to analyze market power – ELMO (Electric Market Optimization). This model simulates strategic pricing behavior in wholesale electricity markets. ELMO can be used to assess the extent to which market power will be a problem in specific situations, and the extent to which various policies will be effective at mitigating the market power of dominant firms. We have applied ELMO in the context of utility company mergers, generation asset divestitures, and in the development of market power monitoring and mitigation rules.

Synapse has also developed custom models inside Excel for specialized needs. Some of these models have included sophisticated methods such as Monte Carlo analysis.

Synapse also applies economic models to estimate the effects of projects and policies upon regional economic activity including employment. We have run REMI, IMPLAN, and REDYN.