Japan says it has enough power to meet scorching summer demand

The Japanese government has announced that the country will have enough electricity to meet demand during the upcoming scorching summer. Households and businesses will not be asked to conserve power.

The government said all regions are expected to have ample supply, based on the latest documents.

Households and businesses will not be asked to conserve power this summer. The assessment covers the entire country.

The statement addresses concerns over high demand during heat waves. Officials emphasized that supplies are adequate to avoid shortages.

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Illustration of a heatwave in Europe driving up electricity prices to record highs.
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Electricity prices in Europe surge due to heatwave

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The ongoing heatwave is driving electricity prices in Europe to unusual highs. On Wednesday evening, power was traded for nearly 750 euros per megawatt hour.

The Japanese government is considering subsidies for electricity and city gas this summer, following its earlier gasoline subsidies. Rising energy prices tied to the Iran conflict are expected to push fees higher around June.

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The country’s power grid struggled to fully meet peak daytime electricity demand for the first time this summer, with a shortage of 188 MW when demand hit a record 270 GW on Thursday.

Water shortages are affecting tourist spots in Japan during Golden Week, forcing sightseeing boats, hot spring operators and other businesses to reduce service hours. The Japan Times reports that these measures are necessary due to the shortages.

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South Korea will lower the cap on fuel prices to reflect the recent decline in global crude oil prices while freezing electricity and gas rates in the second half, Finance Minister Koo Yun-cheol said on Friday.

Japan's Industry Ministry has proposed replacing two to five aging nuclear reactors by the 2040s and 11 to 14 by the 2050s.

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Japanese and South Korean officials agreed to strengthen energy security during recent talks, as worries over supplies persist in Asia because of the U.S.-Israeli war against Iran.

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