Market studies
Spot and contract price outlooks, operating scenarios and strategic project evaluation.
Since 1990 • 35+ years of track record
Strategic insight for critical decisions in power markets
We model power markets with deep technical rigor and strategic judgment. We advise investors, developers and utilities across generation, transmission and distribution, as well as commercial and multilateral lenders, on complex market and regulatory decisions—and we support large consumers in structuring and negotiating supply contracts. Our work also includes regulatory studies for public institutions and multilateral finance organizations, including the Inter-American Development Bank and the World Bank.
- Track record
- 35+ years
- Reach
- 20+ countries
- Senior partners
- 6 senior partners
- Focus
- Markets & regulation
Services
Technical work that underpins public policy, investment and contracting decisions in complex electricity markets—with traceability and regulatory coherence.
Regulatory design
Market rules, open access, governance and frameworks for efficient, competitive markets.
Tariffs and economic regulation
Tariff design and reviews for natural monopoly activities: transmission and distribution.
Due diligence
Technical and regulatory review for financings, acquisitions, privatizations and disputes.
Contracts (PPA)
Structuring, appraisal and negotiation support for supply contracts for large consumers and generators.
Tenders & Procurement
Tender design and support for competitive procurement and supply processes.
Pioneers in electricity markets
Synex was founded in 1990 by professionals who took part in Chile’s power sector reform. Since then, we have advised investors, developers, banks, industry players, governments and regulators across the Americas, Africa, Asia and Europe.
Public policy & regulation
Wholesale markets & transmission
Investment appraisal & financing
Contracts & energy procurement
“Our advantage lies in combining rigorous technical analysis with a deep institutional understanding of how energy markets function.”
International experience
Across four continents, we advise developers, investors and financial institutions assessing opportunities in new markets—particularly Chile—while also supporting governments and authorities responsible for designing and modernizing regulatory frameworks. Our work spans reforms, tariff processes and investment decision support in complex power systems.
20+ countries
Advisory on reforms, regulations, tariff frameworks, outlooks and project assessment.
View countries & approach →International reach, institutional insight
From the first modern electricity reform to today’s regulatory processes, we have contributed to the design and assessment of market frameworks across multiple jurisdictions.
We combine economic modeling, institutional understanding, and hands-on experience in real-world public and private decision-making.
Clients and counterparts
For more than three decades we have advised investors, developers, banks, multilaterals and energy companies — in addition to governments and regulators — including engagements for the IDB, IFC and the World Bank. Below is a selection of clients and counterparts.
AES Andes
BID
CDPQ
CNE
Coordinador Eléctrico Nacional
EDF Energies Nouvelles
ENGIE
IFC
Ministerio de Energía
OMERS
OPIC
Statkraft
Team
Six senior partners with extensive regulatory, executive and technical experience across electricity markets, tariff frameworks, contracts and investment appraisal, supported by finance and administration.
Sebastián Bernstein
Partner • Co-Founder
Former Executive Secretary at Chile’s energy regulator (CNE). Co-author of Chile’s power-sector reform; advisor on energy regulation and market reform across the Americas, Africa and Asia.
Renato Agurto
Partner • Co-Founder
Former Head of the Electricity Division at Chile’s energy regulator (CNE). Co-author of Chile’s power-sector reform; advisor on regulation, tariff design and institutional market frameworks across Latin America, Africa and Asia.
Rodrigo Iglesias
Partner • Regulation & Tariffs
Former Executive Secretary at Chile’s energy regulator (CNE) and former member of the Expert Panel; advisor on market reforms and tariff processes.
Pedro Gatica
Partner • Planning & markets
Former Planning Deputy Manager at Endesa; wholesale price studies and revenue outlooks for generation projects.
Jean Jacques Descazeaux
Partner • Contracts & Large Consumers
Specialist in large-consumer electricity supply, PPA structuring and negotiation support aligned with long‑term price risk and operational realities; asset valuation and procurement support.
Patricio Agurto
Partner • Outlooks & appraisal
Senior specialist in power system operation simulation, market outlooks and project economic appraisal.
Maximiliano Bernstein
Administration & Finance Manager
Business Engineer; Administration & Finance Manager. Leads Synex’s internal operations and supports client engagement in Chile and internationally.
Let's talk
Energy decisions grounded in technical rigor, independent analysis and strategic vision. If your organization is navigating regulatory, market or investment decisions in energy, we provide sound technical judgment and strategic clarity.
Approach
We prioritize clarity, traceability and consistency across technical assumptions, the regulatory framework and decision-ready conclusions.