Singapore’s wholesale electricity prices have surged to a record high and slumped below zero in the span of a month, a level of volatility more nerve-wracking than Bitcoin’s. Power generation companies were paying buyers to take electricity before dawn on Nov. 11, with prices going negative at about -S$5.05 per megawatt-hour, according to data from Singapore’s Energy Market Company. That’s the first time since 2019 that prices fell below zero, and is a sharp reversal from last month’s record-high rates above S$3,811.
