Modelling is an integral part of THEMA. Our consultants have both the necessary academic expertise and extensive experience in developing and applying sophisticated models of the European power market as well as many other markets. We are known for our ability to develop models of complex relationships that are both transparent and user-friendly.
THEMA is recognised for its general modelling expertise and THEMA’s proprietary modelling solutions are a key tool in our analytical work. We also offer licenses for our models, including our renowned power market model, TheMA. The model is used by a wide range of customers across Europe. Follow the links below for further information about our models.
We offer our customers both standard modelling tools (e.g. our power market model, TheMA, or our DEA-benchmarking model, TIM), and customised modelling solutions, such as models for short-term power market analysis, or for the modelling of the grid or balancing costs.
The key permission underpinning our approach to model development are:
- Transparency: The model’s methodology, data and processes must be transparent and verifiable.
- Ease of use: Both licensed models and those develop in projects for internal use need to be easy to use. Ease of use minimises analytical errors and increases efficiency.
- Balance: The complexity of the model needs to be appropriate for its purpose.
It is important to emphasize that modelling ought not to replace analysis, but does form a useful tool when undertaking analytical work. We work on the premise that “All models are wrong, but some are useful” (G.E.P. Box).
We also offer licenses for our models, including our renowned power market model, TheMA. This model is used by a wide range of customers across Europe.
See also Power market model and Network revenue model.