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Power: Feb 4 - 8: Prices dragged lower due to lethargic Old Man Winter

2019/02/11 07:00

Wholesale electricity prices in Japan markets sank down in the week to February 8, pressured by weak demand stemming chiefly from non-seasonal high temperatures. Based on the Rim Power Index (Day ahead 24 hours), the weekday power prices in the eastern market averaged out at 11.25 yen per kilowatts hour (kWh), down 1.34 yen/kWh or 10.6% compared with the previous week, meanwhile in the western at 7.53 yen/kWh, down 1.57 yen/kWh, or 17.3%. The premium of the eastern market to the western widened a bid to 3.72 yen/kWh from 3.49 yen/kWh recorded in the previous week. The differences of 24 hours average between Tokyo-Tohoku and Hokkaido in the eastern market narrowed to 4.73 yen/kWh from 6.73 yen/kWh, computed from the data from the Japan Electric Power Exchange (JEPX). Hokkaido prices have stayed at unnaturally high levels and often shows wild ups and downs.

For typical cases for the week, in the eastern Japan, Tokyo’s maximum temperatures for February 4 was called for 19 degrees Celsius on a day ahead basis by the Japan Meteorological Agency, 9 degrees Celsius higher than normal. Nagoya’s was done for 14 degrees Celsius, 5 degrees Celsius higher, and Osaka for 15 degrees Celsius, 6 degrees Celsius higher.

On the Japan Electric Power Exchange (JEPX), the weekday average of System Price (Day ahead 24 hours), which are calculated from data of 9 areas (excluding Okinawa), dropped 1.37 yen/kWh or 12.8% to 9.35 yen/kWh, with the average volume standing at 845,113 MWh compared to 844,113 MWh in the previous week.

 

JEPX: System Price (Day Ahead 24 hour)

Weekday Price

4-Feb

5-Feb

6-Feb

7-Feb

8-Feb

 

Average

24-Hour Ave

8.26

9.07

9.97

9.17

10.29

 

9.35

Volume (MWh)

844,304

842,021

845,835

840,981

852,425

 

845,113

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

 

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