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Jan 6, 2021
The government is investigating if any speculative actions are accelerating the record-breaking surge in wholesale power prices, along with a winter supply crunch.
Spot power prices hit a historic high for the fourth straight day on Tuesday. The Electricity and Gas Market Surveillance Commission is investigating whether inappropriate actions are driving up rates, according to a spokeswoman.
Prices began to rally last month as colder-than-normal winter weather boosted demand for heating. To make matters worse, utilities were forced to curb generation at gas-fired power plants due in part to lower-than-normal inventories of the fuel.
Japan’s power surveillance commission, which sits under the Economy, Trade and Industry Ministry, is also investigating if any electricity producers are purposefully withholding capacity from the market, the spokeswoman said. The commission hasn’t yet discovered any evidence of wrongdoing, she said.
New York Hospitalizations Rise, New Travel Rules: Virus Update
Bloomberg 12/25/2020 Bloomberg News
(Bloomberg) Hospitalizations in New York City continued to rise and the rate of positive tests showed no sign of slowing. Pope Francis used his Christmas Day message to appeal for world leaders to share vaccines.
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Travelers from the U.K. face more restrictions due to a new variant of the virus spreading, with the U.S. insisting arriving Britons have a negative Covid-19 test within 72 hours of departing the country. President Donald Trump is expected to sign the order later Friday, and the measure will come into effect Dec. 28.
New York Hospitalizations Rise, New Travel Rules: Virus Update
Bloomberg 12/25/2020 Bloomberg News
(Bloomberg) Hospitalizations in New York City continued to rise and the rate of positive tests showed no sign of slowing. Pope Francis used his Christmas Day message to appeal for world leaders to share vaccines.
Popular Searches
Travelers from the U.K. face more restrictions due to a new variant of the virus spreading, with the U.S. insisting arriving Britons have a negative Covid-19 test within 72 hours of departing the country. President Donald Trump is expected to sign the order later Friday, and the measure will come into effect Dec. 28.
(Repeats story published on Thursday with no changes to text)
TOKYO, Dec 17 (Reuters) - Power prices in Japan surged on Thursday to the highest in more than two years as a cold snap gripped the country, fueling demand for heating amid reduced generation capacity with nuclear plants offline and higher liquefied natural gas (LNG) costs.
Electricity prices reached 60.5 yen (59 cents) per kilowatt hour on the Japan Electric Power Exchange, the highest since late July 2018, according to exchange data.
The rise underlines the potential for tightness in Japan’s power market as the country’s moribund nuclear sector struggles to return to its former position nearly 10 years after the Fukushima crisis.