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Power: Aug 5-9: Markets keep flying high on heatwave

2019/08/12 07:00

Japan’s electricity prices in wholesale markets extended gains in the week ended August 9, propelled by the tighter balance of supply and demand resulting from higher temperatures than normal. 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 22.14 yen per kilowatt hour (kWh), up 4.78 yen/kWh or 27.5% from the prior week, meanwhile prices in the western, made up of Chubu, Hokuriku, Kansai, Chugoku, Shikoku and Kyushu area, at 10.88 yen/kWh, up 1.86 yen/kWh, or 20.6%. The premium of the eastern market to the western widened further to 11.26 yen/kWh from 8.34 yen/kWh.

 

In eastern Japan, Tokyo’s maximum temperatures were estimated on a day ahead basis at 35 degrees Celsius for Aug 6 through Aug 9, compared to the range of 32C to 35C for July 29 to Aug 2. Daily max temperatures in west Japan’s mega cities such as Nagoya and Osaka were projected at around 35C for Aug 6 to Aug 9. That strong hot spell seemed to increase electricity demand for air-conditioning apparatus. In three eastern areas, prices on the Japan Electric Power Exchange (JEPX) reached 45.85 yen/kWh to deliver for 16:30 to 17:00 on Aug 5, 60.00 yen/kWh for 16:00 to 17:30 on Aug 6, 60.00 yen/kWh for 15:00 to 18:00 on Aug 7, 60.01 for 16:00 to 16:30 on Aug 8, and 60.00 yen/kWh for 15:00 to 17:30 on Aug 9.

 

On the Japan Electric Power Exchange (JEPX), the weekday average of System Price (Day ahead 24 hours), which are computed based on the data of 9 areas, soared by 3.16 yen/kWh or 26.8% to 14.94 yen/kWh, with the average volume decreasing by 34,956 megawatts hour (MWh) to 924,401 MWh.

 

JEPX: System Price (Day Ahead 24 hour)

Weekday Price

5-Aug

6-Aug

7-Aug

8-Aug

9-Aug

 

Average

24-Hour Ave

11.81

14.97

16.87

16.80

14.26

 

14.94

Volume (MWh)

936,045

942,256

944,726

891,794

907,183

 

924,401

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

 

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