Japan's Power Prices Jump 20 Percent in a Week to Highest Level Since January 2023

Japan's nationwide day-ahead electricity price rose 20 percent in a week to hit its highest level since January 2023 on Monday, Shahrivar 2, 1405 (August 24, 2026), according to Oilprice.com. Citing data from the Japan Electric Power Exchange (JEPX) carried by Bloomberg, the report said Monday's price reached 25.18 yen (about $0.16) per kilowatt hour. The report attributed the jump to a heatwave boosting consumption, but said the larger driver was disruption to West Asian oil and gas supply and a doubling of liquefied natural gas prices since before the Iran war, as the blockade of the Strait of Hormuz has also cut off Qatar's LNG exports. Japan, one of the world's largest LNG importers, has shifted power generation from gas to coal since early summer, the report said, pushing the country's power generation fuel costs to their highest level in more than three and a half years.