Japan’s Spot Power Prices Fall to 6-Year Low on Cheaper Fuel
- 24-hour average electricity spot price fell to 5.541 yen/kWh
- Crude oil in May is trading at the lowest level in 12 years
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Japan’s spot power prices fell to a 6-year low amid the weakest oil price for this time of year since 2004 and low seasonal demand.
The 24-hour average day-ahead electricity spot price for delivery on May 14 dropped to 5.541 yen per kilowatt hour, the lowest since March 2010, according to data from the Japan Electric Power Exchange.