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Power: Apr 8-12: Freezing sucker punch jacks some east prices sky-high

2019/04/15 07:00

Eastern Japan’s electricity prices in the wholesale markets leaped in the week ended April 12, receiving upward pressures from spring cold air, stingy supply of solar power as well as buyer’s appetite, with western prices firming. Based on the Rim Power Index (Day ahead 24 hours), the weekday power prices in the eastern market averaged out at 17.10 yen per kilowatt hour (kWh), up 6.27 yen/kWh or 57.9% from the previous week, meanwhile in the western at 7.78 yen/kWh, up 0.75 yen/kWh, or 10.7%. The premium of the eastern market to the western broadened to 9.32 yen/kWh from the previous week’s 3.80 yen/kWh. The difference of 24 hours average between Tokyo-Tohoku and Hokkaido within the eastern market narrowed to 1.03 yen/kWh from 4.59 yen/kWh, computed based on the data from the Japan Electric Power Exchange (JEPX). Hokkaido prices have been at higher levels and often fluctuated.

Tokyo’s maximum temperature for Apr 10 was predicted on a day-ahead basis at 7 degrees Celsius, 11.1 deg C lower than average, with rainfall also anticipated, causing a kind of power crunch in the Tokyo area where a day-ahead prices for 34 lots (one lot = 30 minutes) from 8:00 to 24:00 marked 40.00 to 60.00 yen/kWh to delivery on April 10 on the JEPX. Furthermore, the unburst might gain momentum from shut-offs in a few thermal power plants such as a 1,000 megawatts (MW) coal-fired plant owned by a giant plant holder, which is originally planned to resume on Apr 10 but the schedule is timely postponed, and a non-major power company (i.e. a relatively new comer) halting its 240 MW-gas-fired plant at 20:30 on Apr 5 and appearing to operate briefly on Apr 10 but coming to rest again at 20:30 on the day. The non-major with the faltering plant was rumored to be forced to secure electricity in the market at incredibly high prices for delivery on Apr 11, and 12 as well.

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), advanced to 9.30 yen/kWh, gaining 1.59 yen/kWh or 20.6% compared with 7.71 yen/kWh in the prior week, with the average volume decreasing by 19,817 megawatts hour (MWh) or 2.8% to 697,864 MWh. Tokyo’s daily 24 hours average for delivery on Apr 10 stood at 39.56 yen/kWh, exceeding 33.11 yen/kWh of Hokkaido, 34.96 yen/kWh of Tohoku and 9.88 yen/kWh of western Japan.

 

JEPX: System Price (Day Ahead 24 hour)

Weekday Price

8-Apr

9-Apr

10-Apr

11-Apr

12-Apr

 

Average

24-Hour Ave

6.45

7.30

13.34

8.86

10.55

 

9.30

Volume (MWh)

692,678

687,231

705,615

704,558

699,237

 

697,864

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

 

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