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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.
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Minister of Energy Sonya Savage issued the following statement on the decision to cancel 11 recently issued coal leases and pause any future coal lease sales in former Category 2 lands:
By Reuters Staff
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Jan 19 (Reuters) - Yancoal Australia Ltd said on Tuesday it expects a rebound in demand for coal-fired electricity generation in 2021 as global economic conditions are set to improve.
Following China’s unofficial ban on coal imports from its major supplier Australia in the second half of 2020, Yancoal has been diversifying its customer base with sales made into India, Pakistan and South America which it intends to widen.
It is believed that China, the world’s biggest coal importer, imposed the ban in retaliation for Canberra’s call for an international probe of the origins of the coronavirus pandemic.