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Power: Jul 1-5: Prices sag on more available supply, slack demand

2019/07/08 07:00

Prices in Japan’s wholesale power markets slipped in the week ended July 5, receiving downward pressures from languid electricity usage under contra-seasonally cool conditions together with power plants that were back online after a maintenance hiatus.

 

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 8.26 yen per kilowatt hour (kWh), down 0.55 yen/kWh or 6.2% from the prior week, meanwhile prices in the western, made up of Chubu, Hokuriku, Kansai, Chugoku, Shikoku and Kyushu area, at 7.15 yen/kWh, down 0.64 yen/kWh, or 8.2%. The premium of the eastern market to the western broadened a touch to 1.11 yen/kWh from 1.02 yen/kWh. In eastern Japan, Hokkaido market were decoupled from Tokyo and Tohoku, standing at higher prices partially because of lower capacity in one interconnection line with the main land, resulting from inspection works. Tokyo’s 24 hours-weekday-average based on the Japan Electric Power Exchange (JEPX) data, was at 8.10 yen/kWh, against Hokkaido’s 10.24 yen/kWh that is higher than the prior week’s 8.76 yen/kWh.

 

In eastern Japan, Tokyo’s maximum temperatures were projected on a day ahead basis at 26 degrees Celsius for Jul 1, 25 deg C for Jul 2, 27 deg C for Jul 3, 4, 22 deg C for Jul 5, that were at or below average. A slew of powerhouses including coal- and gas-fired plants restarted operations after inspections both in eastern and western Japan.

 

On the Japan Electric Power Exchange (JEPX), the weekday average of System Price (Day ahead 24 hours), which are figured out from data of 9 areas, skidded by 0.71yen/kWh or 8.6% to 7.58 yen/kWh from the prior week, with the average volume swelling 43,457 megawatts hour (MWh) to 838,505 MWh.

 

JEPX: System Price (Day Ahead 24 hour)

Weekday Price

1-Jul

2-Jul

3-Jul

4-Jul

5-Jul

 

Average

24-Hour Ave

7.76

7.73

7.60

7.86

6.93

 

7.58

Volume (MWh)

831,087

825,989

835,304

847,988

852,156

 

838,505

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

 

 

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