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Weekly Summary

Power: Jul 20- 24: Markets flat with mixed factors

Wholesale electricity prices in Japan went sideways in the short week to July 24 because of two holidays, stuck in bullish and bearish factors. 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 4.46 yen per kilowatt hour (kWh), up 0.05 yen/kWh or 1.1 % from the previous week, meanwhile prices in the western, made up of the Chubu, Hokuriku, Kansai, Chugoku, Shikoku and Kyushu area, at 3.80 yen/kWh, up 0.03 yen/kWh or 0.8%.

 

A few thermal power plants restarted after a hiatus at the beginning of the week, adding downward pressures on the markets, alongside photovoltaic power stations under patchy blue skies. All nine areas saw some 0.01 yen/kWh units for Jul 20 delivery on the Japan Electric Power Exchange (JEPX) trading. 0.01 yen/kWh is the lowest price under the current regulations. And then, however, higher temperatures and dampness increased demand for air conditioning.

 

The premium of Hokkaido to Tokyo recorded 0.19 yen/kWh, compared to zero observed in the prior week, with Hokkaido's 24 hours average 4.64 yen/kWh (previous week's ave:4.41 yen) and Tokyo's 4.45 yen/kWh (4.41 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 was in the same orbit with Tokyo. Nighttime averages for Tokyo and Tohoku showed a wider drop than other seven areas.

Kansai's weekly average gained by 0.06 yen/kWh to 3.74 yen/kWh, and Kyushu's went through the same motion. 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. Both areas' daytime average logged smaller gains than east three areas, despite the higher daily maximum temperatures. Some market participants believe that western producers provided as much electricity as possible to reduce excess fuel stocks which were created by slow economic activities under the new coronavirus and the cool rainy season, though the produces seemed to pay close attention not to cause a sharp price dip.

 

On JEPX, the weekday average of System Price (Day ahead 24 hours), which were figured based on the data of 9 areas, edged up by 0.08 yen/kWh or 2.0% to 4.12 from the previous week's 5.04 yen/kWh, with the average volume decreasing by 24,182 megawatts per hour (MWh) to 877,609 MWh compared to the previous week.

 

JEPX: System Price (Day Ahead 24 hour)

Weekday Price

20-Jul

21-Jul

22-Jul

23-Jul

24-Jul

 

Average

24-Hour Ave

3.56

4.06

4.74

National

National

 

4.12

Volume (MWh)

828,051

852,885

951,890

Holiday

Holiday

 

877,609

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

 

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