Japan's spot power price spikes amid robust demand

The day-ahead spot price traded on the Japan Electric Power Exchange spiked 8.6% to Yen 16.96/kWh for Sept. 10, led by higher contracted prices for the central and western areas due to robust power demand from the country's prolonged heat.

The Sept. 10 spot price rose from Yen 15.62/kWh for Sept. 9, driven by higher contracted prices for the Chubu, Hokuriku, Kansai, Chugoku, Shikoku and Kyushu areas, after the Sept. 9 price surged 39.2% on the day from the weekend.

Tokyo and Tohoku's minimum integrated reserve power supply capacity ratio is slated to drop to as low as 3.2% in the week of Sept. 9-13 as power demand rises on higher temperatures, but the areas' ratio would be about 7.2% using extra capacity, according to the Organization for Cross-Regional Coordination of Transmission Operators.

The Tokyo and Tohoku areas' integrated reserve power supply capacity ratio is expected to drop to 3.2% on Sept. 10, when the Chubu area's integrated reserve power supply capacity ratio is anticipated to be 4.8% for the day.

However, the Tokyo and Tohoku areas' ratio would recover to 7.2%, with the Chubu area recovering to 9.9% on Sept. 10, taking into account additional capacity to be restarted, according to the OCCTO.

Power generation fuel monitoring for the Sept. 21-Oct. 31 period, conducted by the OCCTO, anticipates that the country's fuel reserve under the 30-year average power demand is slated to drop to its minimum level of 13.656 TWh on Oct. 28, equivalent to a seven-day average electricity consumption during the period.

With its power generation fuel monitoring covered and confirming sufficient fuel inventory until the end of October, the OCCTO has concluded its survey for the summer and is slated to resume its fuel monitoring for the winter.

Meanwhile, JERA shut the 595-MW No. 2 gas-fired unit at the Joetsu thermal power plant in the northwest at 05:14 am local time (2014 GMT) Sept. 9 due to a glitch at an electric-related facility, the company said in a filing to the Hatsuden Joho Kokai System, with no date for restart.

It followed JERA's shutdown of the 1-GW No. 2 gas-fired unit at the Higashi Ohgishima thermal power plant Sept. 7 due to an issue at a boiler-related facility, the company said in a separate HJKS filing, with no timeline for restart.

Kansai Electric plans to restart the 486.5-MW No. 4 gas-fired unit at the Himeji Daini power plant Sept. 10 after it was shut Sept. 5 due to works at a power generator, the company said in a HJKS filing.