What’s Going on in Japan? – Questions For Corbett #078

HomeRemedySupply says:

Japan’s Electric and Heat – I’m curious about this.

Asia and Europe may have some high electric and heat utility bills this coming winter, if the power stays on.
In the U.S., Natural Gas prices have climbed more than 84% in 2021, getting close to doubling. Hank Hill’s favorite, Propane, (a natural gas derivative), had a marketplace price of 46 cents per gallon on September 10, 2020. Today it is $1.19.

The U.S. exports Natural Gas to Europe and Asia in the form of LNG, Liquid Natural Gas. The mark-up is about 3 times the price of Natural Gas in the U.S.

OILPRICE.COM – August 21, 2021
“Japan’s Strategic Plan For LNG May Be Unrealistic”
https://oilprice.com/Energy/Natural-Gas/Japans-Strategic-Plan-For-LNG-May-Be-Unrealistic.html
Japan’s recent revision to its Strategic Energy Plan (SEP) lowers the targeted share of liquefied natural gas (LNG) in the country’s power generation mix in 2030 to 20% from 27% previously, as a measure to cut emissions. A Rystad Energy analysis concludes that Japan’s targets are too ambitious to meet and that the changes the new plan will bring will mostly be in the structure of commodities trading.
Before Japan outlined its sixth SEP, Rystad Energy already considered the earlier 27% target an underestimation, as we expect the country’s LNG reliance to be higher in 2030….

— Remember last winter? Europe and Asia (and Texas) experienced a real cold one. —
February 5, 2021 – Reuters
“Analysis: Out in the cold – how Japan’s electricity grid came close to blackouts”
https://archive.is/YGphr
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…

…Prices on the Japan Electric Power Exchange (JEPX) hit a record high of 251 yen ($2.39) per kilowatt hour in January, equating to $2,390 per megawatt hour of electricity, the highest on record anywhere in the world. One megawatt hour is roughly what an average home in the U.S. would consume over 35 days….

Source

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes