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WaterRock Energy Economics (HK) Limited is a market and economic consultancy with a focus on power and gas sector in Singapore, the Philippines, Vietnam, mainland China, Taiwan, Hong Kong and other Asian markets. In the name, "Water" represents renewable and "Rock" represents fossil fuel. We focus on robustly understanding and analyzing the interaction between renewables, gas and energy storage solutions in Asia.

Welcome to
WaterRock Energy


The team have a strong track record of providing valuable advisory services on:

  • Regulatory/policy analysis on competitive electricity markets such as Singapore, the Philippines and South China (e.g. in Feb 2019 - April 2021, we were involved in the design of forward capacity market in Singapore; We were engaged by EMA to study the long term technology mix to achieve Singapore's long term carbon emission targets (including imports, hydrogen and CCS) in 2021-2022;  Since early 2022, we have been in a panel to help EMA evaluate the commercial competitiveness of different power import proposals. 

  • Role of flexible capacity and the economics of flexible power capacity and associated energy infrastructure in Asia (In early 2020, we were invited by JBIC to present to the Philippines' Energy Committee of the Senate and Philippines' House of Representatives on the role of natural gas and economics of building new LNG terminals in the Philippines);

  • Challenges and opportunities for a greener future in Asia.  In 2021, we worked with the Asia Investor Group on Climate Change (AIGCC) on a topic of Accelerating Clean Energy in Southeast Asia.   Since 2018, Liutong has been invited by UBS as a China renewable expert to present to its clients on China decarbonization and renewable investment trend.  For example, he presented the topic "China's Power Sector - Power shortage, Renewable and Grid Infrastructure Policies and Outlook" in November 2022 and 2021 and "Facing the Challenges of a Greener Future in China" in 2020 in the UBS Asia Energy, Utilities, and Materials Conference.  

  • Market studies and economics of building/investing in power and gas infrastructure assets in the Philippines, Singapore, Vietnam, Greater China region and other Asian countries

    • Detailed market/due-diligence studies and pool price forecast on power markets in Singapore, the Philippines and other ASEAN markets

    • Detailed market/due-diligence studies for investing in power and gas sector in mainland China at provincial level.  

    • Detailed market/due-diligence studies on the gas and power market in Taiwan. 

  • Power dispatch and capacity expansion optimization modelling;

  • Power and gas tariff projection;

  • Hydrogen market and economic analysis; and

  • Tariff benchmarking.

Due-diligence Study


Power and Gas Optimization Modelling Support


Regulation and Strategy Support


Price and Tariff Trend Analysis and Forecast


Curtailment Analysis and Forecast


Commercial and Strategy Support



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