Japan nationwide electricity prices rise more than 25% week over week
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According to data from the Japan Electric Power Exchange, national electricity prices in Japan rose more than 25% from the previous week this Monday, reaching $0.19 per kilowatt-hour (31.15 yen). This round of electricity price increases is directly tied to soaring fuel costs: spot LNG prices for December delivery in Northeast Asia averaged $29.30 per million British thermal units, the highest level since December 2022; Newcastle coal futures are up 30% from pre-war levels. Japan shifted to coal-fired power generation this summer amid high LNG prices, and scheduled maintenance at some power plants ahead of winter has further pushed up electricity prices.
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- ZeroHedgeJapan's electricity prices rise over 25% week-on-week as LNG and coal costs surge
According to Bloomberg, citing data from the Japan Electric Power Exchange, national electricity prices in Japan rose more than 25% on Monday from the previous week, reaching $0.19 (JPY 31.15) per kilowatt-hour. Spot LNG prices for December delivery in Northeast Asia averaged $29.30 per million British thermal units, the highest level since December 2022. Newcastle coal futures are up 30% from pre-war levels. Japan shifted to coal-fired power generation this summer due to high LNG prices, and some power plants are undergoing maintenance ahead of winter, further driving up electricity costs.
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