Japan Power Prices Surge to Highest Since 2023
Japan’s nationwide day-ahead electricity price soared by 20% in one week to settle on Monday at the highest level since January 2023, as gas supply disruptions from the Middle East and an intense heatwave pushed up prices and consumption. The day-ahead power price in Japan has jumped to $0.16 (25.18 Japanese yen) per kilowatt-hour (kWh) on Monday, per data from the Japan Electric Power Exchange cited by Bloomberg.
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Key Facts
- Fact 1: Japan’s nationwide day-ahead electricity price soared by 20% in one week to settle on Monday at the highest level since January 2023, as gas supply disruptions from the Middle East and an intense heatwave pushed up prices and consumption.
- Fact 2: The day-ahead power price in Japan has jumped to $0.16 (25.18 Japanese yen) per kilowatt-hour (kWh) on Monday, per data from the Japan Electric Power Exchange cited by Bloomberg.
- Fact 3: The average spot LNG price for October delivery into north-east Asia was estimated at $22.50 per million British thermal units (MMBtu) at the end of last week, the highest level since the early days of the Middle East conflict.
- Fact 4: By Tsvetana Paraskova for Oilprice.com More Top Reads From Oilprice.com Oil Prices Slide 2% as Markets Brace for Bessent’s ‘Economic D-Day’ Iraq Wants to Double Oil Output—and Needs OPEC to Get Out of the Way China’s Oil Imports Set to Rebound as Refiners Hunt for New Supply
Japan’s nationwide day-ahead electricity price soared by 20% in one week to settle on Monday at the highest level since January 2023, as gas supply disruptions from the Middle East and an intense heatwave pushed up prices and consumption. The day-ahead power price in Japan has jumped to $0.16 (25.18 Japanese yen) per kilowatt-hour (kWh) on Monday, per data from the Japan Electric Power Exchange cited by Bloomberg.
The heatwave in Japan is set to intensify later this week, with temperatures peaking on Wednesday, according to weather forecasts. While the heatwave is boosting consumption, the oil and gas supply disruption in the Middle East has raised Japan’s fuel costs as LNG prices have doubled from before the Iran war began and Qatar’s LNG supply was trapped behind the Strait of Hormuz. Japan, one of the world’s biggest LNG importers, earlier this summer reduced gas-fired generation in favor of coal as the price of liquefied natural gas remained elevated.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: OilPrice.com
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