Deadly Earthquake in Japan Sends Spot Power Rates Up 15%
- 1.2 gigawatts of coal-fired power plant shut due to quake
- Magnitude 7.6 earthquake hit Japan on Monday afternoon
Firefighters extinguish a fire in Nanao, Ishikawa Prefecture, on Jan. 2.
Photographer: Soichiro Koriyama/BloombergThis article is for subscribers only.
A deadly earthquake off the coast of northwestern Japan took electricity generators offline, leading to a jump in the nation’s spot power prices.
The magnitude 7.6 quake, which hit off the coast of Noto Peninsula in northwestern Japan on Monday, has led to 13 deaths so far. About 33,000 people remained without power Tuesday morning, according to Hokuriku Electric Power Co.