I received the brochure to inform me that my area will be eligible for the “open electricity market” from 1 March. The government first rolled out the program in the western side of Singapore.

This booklet served as a reminder about the bet that went wrong – Hyflux. Both referring to myself as well as that of Hyflux. A lot of investors thought they were investing in “water” sector at the desalination plant, but Hyflux was actually betting on the “energy” market when it won the bid for the desalination project at Tuaspring.  According to my friends who are more experienced in the infrastructure space, Hyflux was the lowest bidder and the assumptions they used to compute the ROI were highly aggressive. As a result, with the crash in the electric power supply market prices locally, the Tuaspring Plant became a “negative” carry. In other words, investors who