In the day-ahead market on JEPX (Japan Electric Power Exchange), the 24-hour spot power prices for Jan 17-21 delivery extended a rally from the previous week in both East Japan and West Japan. The market was pushed up by robust buying amid persistent chilly winter climate. Offers were fully hit by bids around 8:00 and several evening windows, pushing up spot prices to hit the intraday high of Yen 80.00 in all of nine areas day after day from Jan 19 delivery onward. In eight areas excluding Kyushu, the base price stood above Yen 30 from Jan 18 delivery onward, advancing to the Yen 40 level for Jan 21 delivery. Spot prices were partly bolstered by planned shutdowns and output controls of thermal units due to fuel constraints.

The actual highest price during the week was at Yen 80.00 in all of nine areas and the System Price for Jan 19, Jan 20 and Jan 21 delivery. The actual lowest price during the week was at Yen 8.89 in Kyushu for Jan 18 delivery.

By area, the weekly average of the 24-hour spot prices was at Yen 33.62 in Hokkaido, up Yen 8.05 from the previous week, Yen 34.21 in Tohoku, up Yen 8.50, Yen 34.23 in Tokyo, up Yen 8.52, Yen 34.28 in Chubu, up Yen 8.77, Yen 34.23 in Hokuriku, Kansai, Chugoku and Shikoku, up Yen 9.79, and Yen 26.20 in Kyushu, up Yen 7.30.

Power demand in nine areas of Japan during Jan 17-21 was a combined 15,47.16 mil kWh, up 3.8% from 14,901.94 mil kWh during Jan 10-14. The figure was up 4.5% from the corresponding period a year earlier. Demand during Jan 18-22, 2021 after day of week adjustment was 14,799.85 mil kWh.

In the JEPX forward market, no deals were reported during Jan 17-21.

Deals reported on TOCOM (Tokyo Commodity Exchange) during Jan 17-21 were as below.

Deals reported on EEX (European Energy Exchange) during Jan 17-21 were as below.

In the week starting Jan 24, spot prices are expected to stay in the current high range. Chilly winter climate is forecast to persist. The weather is forecast to be bad in the first half of the week, and a possible tightness in solar power supply will likely generate upside pressure to spot prices. In Kyushu, spot prices remain undervalued against other eight area. But Kyushu EPC halted the 1,180MW No3 pressurized water reactor (PWR) at its Genkai nuclear power station in Saga prefecture for a six-month inspection. The absence of the Genkai No3 reactor is more than likely to affect price trends for Jan 24 delivery onward.