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Weekly Summary

Power: Jul 13- 17: Oversized supply drives prices down

Japan wholesale electricity markets tumbled in the week ending July 17, knocked down by feeble demand and increasing supply capacity in the not-so-hot summer. Based on the Rim Power Index (Day ahead 24 hours), the weekday power prices in the eastern market, including Hokkaido, Tohoku and Tokyo area, averaged out at 4.41 yen per kilowatt hour (kWh), down 1.12 yen/kWh or 20.3 % from the previous week, meanwhile prices in the western, made up of the Chubu, Hokuriku, Kansai, Chugoku, Shikoku and Kyushu area, at 3.77 yen/kWh, down 1.18yen/kWh or 23.8%.

 

Cool temperatures reduced electricity usage for air conditioning. In east Japan, Tokyo's average for daily minimum temperatures were projected on a day ahead basis at the range of 19 to 22 degrees Celsius, averaging out at 20.6°C compared to the prior week's of 23.6°C. Mini temperatures for Osaka, west Japan's largest city, at the range of 22 to 23°C, averaging 22.4°C against 23.6°C. In the latter of the week, maximum temperatures for some western major cities were estimated at 30°C or more, unlike Tokyo where max temperatures expected for the week estimated at the range of 24 to 29°C. At the most same time, however, better weather came in west Japan, adding electricity supply. In contrast with the current slow demand, both in east and west, thermal power stations seemed to be steadily prepared for the summer demand season.

 

The premium of Hokkaido to Tokyo disappeared contrasting minus 0.12 yen/kWh seen in the prior week, with Hokkaido's 24 hours average 4.41 yen/kWh (previous week's ave:5.43 yen) and Tokyo's 4.41 yen/kWh (5.55 yen), which are reckoned in conformity to data compiled by the Japan Electric Power Exchange (JEPX). Hokkaido prices often move at higher levels than other areas especially in the winter season. Tohoku's average dropped by 1.09 yen/kWh to 4.41 yen/kWh, equaling to Tokyo and Hokkaido.

Kansai's weekly average plunged by 1.21 yen/kWh to 3.74 yen/kWh, and Kyushu's declined by 1.21 yen/kWh to 3.74 yen/kWh. The differential of the two areas remained at zero. Kansai area is the biggest market in the western Japan, and Kyushu's prices are apt to hover at less expensive levels alongside of other areas. Only Shikoku area saw two 0.01yen/kWh units to deliver for 12:00 to 13:00 on Jul 16. 0.01 yen/kWh is the lowest price under the current regulations.

 

On JEPX, the weekday average of System Price (Day ahead 24 hours), which were figured based on the data of 9 areas, receded by 1.16 yen/kWh or 22.3% to 4.04 from the previous week's 5.20 yen/kWh, with the average volume decreasing by 10,088 megawatts per hour (MWh) to 901,791 MWh compared to the previous week.

 

JEPX: System Price (Day Ahead 24 hour)

Weekday Price

13-Jul

14-Jul

15-Jul

16-Jul

17-Jul

 

Average

24-Hour Ave

4.69

4.36

3.80

3.79

3.55

 

4.04

Volume (MWh)

889,378

917,278

900,100

899,891

902,308

 

901,791

(unit: yen per kWh) (date: delivery day)  

 

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Tokyo : Electricity Team  Compiling by Electricity Team   +81-3-3552-2411Copyright © RIM Intelligence Co. ALL RIGHTS RESERVED.