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Power: Mar 4 - 8: Markets find modest footing at the starting gun of inspection

2019/03/11 07:00

Wholesale electricity prices in Japan markets bounced back a touch in the week ended March 8, bolstered by less supply from thermal power and solar photovoltaics plants. Based on the Rim Power Index (Day ahead 24 hours), the weekday power prices in the eastern market averaged out at 10.88 yen per kilowatt hour (kWh), up 0.78 yen/kWh or 7.7% compared with the previous week, meanwhile in the western at 6.09 yen/kWh, up 0.50 yen/kWh, or 8.9%. The premium of the eastern market to the western broadened to 4.79 yen/kWh from 4.51 yen/kWh observed in the previous week. The gap of 24 hours average between Tokyo-Tohoku and Hokkaido within the eastern market widedened to 5.54 yen/kWh from 4.58 yen/kWh, computed based on the data from the Japan Electric Power Exchange (JEPX). Hokkaido prices have strangely been at high levels and often fluctuated.

  Load capacity began to decline as some thermal plants halted operations for “spring” checkups. During the weekend to Mar 3, eastern electricity producers reduced approximately 2,200 megawatts (MW) of thermal output, and western shed about 1,800 MW. These heat power stations include a 1,000 MW coal-fired generator and three gas-fired facilities in the east, and a 1,050 MW coal-fired and three gas-fired in the west. Cloud or rain often covered the archipelago, leading to weak supply from PV. Dull demand, however, put a lid on the markets under unseasonably warm weather.

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), firmed up by 0.46 yen/kWh or 5.9% to 8.25 yen/kWh, with the average volume declining 55,317 megawatts hour (MWh) or 6.7% to 766,533 MWh in the previous week.

 

JEPX: System Price (Day Ahead 24 hour)

Weekday Price

4-Mar

5-Mar

6-Mar

7-Mar

8-Mar

 

Average

24-Hour Ave

8.77

7.60

8.46

8.57

7.86

 

8.25

Volume (MWh)

774,582

752,828

767,120

774,873

763,262

 

766,533

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

 

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