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 coal in Asia. 

In the past three years, we have worked for regulators, financial institutions, power and gas infrastructure investors, large end-users and reputable international consultancies on electricity market design, role of gas, corporate strategy, opportunity and risk assessment in renewables and gas infrastructure investment and power modelling support in Asia.  

We work hard to provide thoughtful, practical and independent insights and solutions for our clients and partners.

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. we are currently involved in the design of forward capacity market in Singapore);

  • 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 Nov 2020, Liutong was invited by UBS as a China renewable expert to present to its clients on the topic "Facing the Challenges of a Greener Future in China" in the UBS Asia Energy, Utilities, and Materials Conference 2020);  

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

    • Solar and wind curtailment assessment and forecast in China (we have used a sophisticated curtailment assessment tool to project over 10 GW of solar and wind curtailment for several international investors since 2013) ;

    • Detailed provincial-level power and gas sector market studies in mainland China;

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

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

  • Power dispatch and capacity expansion optimization modelling;

  • Power and gas tariff projection; and

  • Tariff benchmarking.

Market Due-diligent Study



Price Trend Analysis and Forecast


Power and Gas Optimization Modelling Support


Curtailment Analysis and Forecast


Regulation and Strategy Support


Commercial and Strategy Support