19 December 2022 | Other

Snowstorm in the northeast of Japan boosts demand for heating

On Sunday, the spot power price surged in Japan due to increased demand for heating. More and more energy is required as the northeast part of the country is hit by heavy snow.

According to information provided by the Japan Electric Power Exchange, the average price for next-day delivery on Sunday raised by 40% to the level of 34.63 yen per kilowatt-hour in comparison with the previous day. This became a three-month-high. On Monday, the price went down to the level of 32.07 yen, which is still 34% higher than a week ago.

As stated by the Japan Meteorological Agency, snow is unlikely to stop in northern prefectures of Hokkaido, Aomori, and Akita this week. Tokyo's temperatures might fall to 1 degree Celsius, according to the forecast. At the same time, cloudy and rainy weather is expected in widespread parts of the country. Thus, the pressure in the spot power market will remain, as energy demand is still strong while solar output is low because of cloudy weather.

Company MarketCheese
Period: 25.09.2025 Expectation: 200 pips
Buying natural gas with $3.230 target on seasonal demand and technical pullback
Today at 11:11 AM 55
Period: 22.09.2025 Expectation: 10000 pips
ETHUSD set to rise after descending channel breakout
Today at 10:37 AM 43
Brent sell
Period: 30.11.2025 Expectation: 700 pips
Selling Brent crude with target of $60 per barrel
Today at 10:32 AM 35
Gold sell
Period: 31.10.2025 Expectation: 40000 pips
Selling gold after Fed meeting
Today at 09:11 AM 69
Expectation: 1250 pips
Selling USDJPY with 146.450 target while anticipating BoJ rate decision
Today at 06:40 AM 78
Period: 17.09.2025 Expectation: 500 pips
Buying SPX on 0.5% Fed rate cut
Yesterday at 11:38 AM 219
Go to forecasts