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Power: Apr 22-26: East markets claw back on less supply ahead of 10-day holiday

2019/04/29 07:00

 Eastern wholesale prices in Japan’s electricity market scaled in the week ended April 26 ahead of the Golden Week, the longest vacation period of the year, pushed up by smaller supply amid relatively cloudy weather with western prices weighed a shade by decent supply from photovoltaics (PV). Based on the Rim Power Index (Day ahead 24 hours), the weekday power prices in the eastern market averaged out at 10.01 yen per kilowatt hour (kWh), up 0.85 yen/kWh or 9.3% from the previous week, meanwhile in the western at 7.15 yen/kWh, down 0.12 yen/kWh, or 1.7%. The premium of the eastern market to the western widened to 2.86 yen/kWh from the previous week’s 1.89 yen/kWh. The gap of 24 hours average between Tokyo and Hokkaido within the eastern market was at minus 0.10 yen/kWh from 1.03 yen/kWh, computed based on the data from the Japan Electric Power Exchange (JEPX). Hokkaido prices have been usually at higher levels and often fluctuated.

  Tokyo’s daily Rim Index average for delivery on Apr 23 was at 10.14 yen/kWh with 23 degrees Celsius forecasted for the daily maximum temperature, meanwhile the daily average for delivery on Apr 18 at 8.94 yen/kWh with 21 deg C. According to the available data as of Apr 25 compiled by the Organization for Cross-regional Coordination of Transmission Operator, Japan, the total electricity demand in the Tokyo area for Apr 23 stood at 704,376 Megawatts hour (MWh), compared to 715,788 MWh for Apr 16. Partly, the expectation of less supply from PV appeared to shore up prices for Apr 23 since sunny spells were projected for Tokyo with clear weather expected for Apr 18. In addition, moves of thermal power plants might affect Tokyo prices. In the early morning of Apr 22, the trading day for delivery on Apr 23, three gas-fired units, totaling 1,260-megawat (MW) output, and a 1,000 MW oil-fired plant were abruptly stopped at the same time in the same complex in the Tokyo area. This surprise could leave buyers cautious. The Rim index to deliver on Apr 26 for east marked the weekly high. Many thermal facilities were scheduled to be halted on the day with rainy clouds expected to cover eastern Japan, even if most of them are for daily start-stop for short hours.

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), stood at 8.16 yen/kWh, compared with 8.24 yen/kWh in the prior week, with the average volume standing at 700,656 megawatts hour (MWh) versus 692,102 MWh in the previous week .

 

JEPX: System Price (Day Ahead 24 hour)

Weekday Price

22-Apr

23-Apr

24-Apr

25-Apr

26-Apr

 

Average

24-Hour Ave

7.69

8.14

8.50

8.17

8.29

 

8.16

Volume (MWh)

677,025

686,400

717,839

723,156

698,861

 

700,656

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

 

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