24th November 2021
EP Report

Electricity prices in Japan rose to their highest in nearly 10 months recently, amid elevated global prices for liquefied natural gas (LNG) and coal - the main fuels to supply country's $150 billion power market.

 

While coal and LNG prices have pulled back from records in Asia, they remain high just as Japanese buyers are tempted back into the spot market to keep stocks high for the coming winter season and the resultant higher demand.

 

The prices for delivery of electricity reached 55 yen ($0.48) per kilowatt hour (kWh) the highest since late-January.

 

Traders said higher LNG prices were starting to filter through to the local power market.

 

Japanese buyers of liquefied natural gas (LNG) are scouting for cargoes to ensure they have adequate supplies of the super-chilled fuel to meet peak heating demand this winter.


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