Power: Nov11- 15: Prices rebound with a jump in Hokkaido
Wholesale electricity prices in Japan firmed up in the week ending November 15, pushed back by a downtick in temperatures chiefly in northern areas together with less supply from power stations. Prices in the Hokkaido area, which is the northernmost main island, spiked to nearly 50 yen per kilowatt hour in two units (one unit = 30 minutes) on a day ahead basis for delivering on Nov 15 on the Japan Electric Power Exchange.
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 9.11 yen per kilowatt hour (kWh), up 1.07 yen/kWh or 13.3% from the prior week, meanwhile prices in the western, made up of Chubu, Hokuriku, Kansai, Chugoku, Shikoku and Kyushu area, at 7.47 yen/kWh, up 1.09 yen/kWh, or 17.1%. The premium of Hokkaido against Tokyo broadened to 4.61 yen from the prior week's 0.33 yen/kWh, with Hokkaido's average 13.36 yen/kWh and Tokyo's 8.75 yen/kWh, which are calculated from data compiled by the Japan Electric Power Exchange. And, the gap between the western average and Kyushu's widened to 0.76 yen/kWh from 0.14 yen/kWh seen in the prior week, with western's 7.47 yen/kWh and Kyushu's 6.71 yen/kWh.
Tokyo's weather in east Japan and Osaka's in west for most of the week days excepting Nov 14 were forecasted to be relatively sunny on a day ahead basis, according to the Japan Meteorological Agency. Photovoltaics stations seemed to run at a good clip to produce electricity during daytime. Tokyo's daily maximum temperatures during the week were forecasted at 17 degrees Celsius to 23 deg C compared with the prior week's range of 19 to 21 deg C. But Sapporo got cold, with its minimum range of minus 1 to 11 deg C. The uprush in Hokkaido prices appeared to be created by the combination of temporary less capacity of interconnection line between Hokkaido and the mainland Honshu due to maintenance works, and an idled gas-fired power plant in addition to cold air. Osaka's max temperatures were projected at 16 to 21 deg C versus the prior's of 18 to 21 deg C. In western markets, night time prices on the Japan Electric Power Exchange trading moved on a firm tone, which probably means that power plants excluding photovoltaic centers operated at low rates in west.
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, climbed by 0.83 yen/kWh or 11.6% to 7.97 yen/kWh, with the average volume decreasing a tad by 2,981 megawatt per hour (MWh) to 768,549 MWh.
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