On Monday, Japan’s power prices soared close to the highest level in almost 10 months amid rising global prices.
On Monday, prices for delivery of electricity early on Tuesday morning hit JPY55/kWh (USD0.48/kWh). It was the highest level seen since late January.
Even when coal and liquefied natural gas (LNG) prices have gone down from record highs in Asia, Japanese buyers are now stocking in the spot market in preparation for the coming winter, resulting in higher demand.
According to traders, higher LNG prices were starting to filter through to the local power market.
