Japan s Tohoku Electric Power and JERA said they had returned some units to operation after a large earthquake at the weekend knocked out large fossil-fuel power stations, in another test for. | February 18, 2021
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TOKYO (Reuters) - Japan’s worst electricity crunch since the aftermath of the Fukushima crisis has exposed vulnerabilities in the country’s recently liberalised power market, although some of the problems appear self-inflicted.
Power prices in Japan hit record highs last month as a cold snap across northeast Asia prompted a scramble for supplies of liquefied natural gas (LNG), a major fuel for the country’s power plants. Power companies urged customers to ration electricity to prevent blackouts, although no outages occurred.
The crisis highlighted how many providers were unprepared for such high demand. Experts say LNG stocks were not topped up ahead of winter and snow disabled solar power farms.
The Bank of Japan has endgamed itself – Investment Watch investmentwatchblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentwatchblog.com Daily Mail and Mail on Sunday newspapers.
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TOKYO, Jan 19 (Reuters) - Japan’s wholesale electricity prices hit the maximum possible for a third day after the government set upper limits on moves last week amid the worst power crunch since the Fukushima disaster nearly a decade ago.
Electricity for delivery on Wednesday reached a high of 200 yen ($1.92) per kilowatt hour (kWh) for peak hours as cold temperatures persisted through many parts of Japan, driving demand for heating.
Japan’s old regional utilities, which now compete with scores of new entrants, have struggled to keep generation units going because of a shortage of fuel and with many reactors still shut after the 2011 nuclear catastrophe.