Japan asks households, companies to conserve electricity during winter

Japan said on Tuesday it will ask households and companies across the country to conserve electricity within “a reasonable range” during the peak winter demand season to alleviate a possible power crunch in the world’s third largest economy.

Between Dec. 1 and March 31, users will be asked to turn off unnecessary lights, wear layered clothing indoors and turn the heating temperature lower.

Japan’s power supply has been tight in recent years as nuclear power plants have been slow to restart after the 2011 Fukushima nuclear disaster. Rising risks that the Russia-Ukraine war could further disrupt global fuel supplies have also added pressure this year.

“The power situation remains severe though we expect to be able to secure the reserve ratio of 3% during the winter,” said Yasutoshi Nishimura, Japan’s industry minister, referring to the minimum generation power capacity required for stable supply.

In Between Street

“We won’t set a numerical target, but will ask for power conservation and energy saving for the entire nation,” he told a news conference.

Other measures such as rebooting idled power plants, making effective fuel procurement and encouraging power conservation through a point programme were also being implemented, he said.

Nuclear power plants have grappled with tighter regulations since the Fukushima nuclear disaster, while power supply has also been curbed by a series of closures of aging thermal power plants, in part to meet Japan’s carbon (CO2) emissions reduction goals.

The resource-poor country also faces the growing risk that a prolonged Russia-Ukraine war and widening Western sanctions on Moscow could disrupt supply and cause fuel shortages.

Japan’s electricity supply outlook for the winter has improved after it secured extra power generation capacity through public auctions, national grid monitor OCCTO said in September.

[Source: Reuters/Images: Flikr)

City at Night

Related Articles

General
Information, News
It has been more than a year since COVID-19 transformed the world, forcing changes in lifestyle, imposing restrictions across businesses -- without warning, without bias. In the investment world, the priority became “flight to safety,” which has historically always favored the land of the rising sun. Japan stands as a self-sustaining market with deep domestic demand, less reliant on foreign trade. A country with relatively stable currency. A national environment unlikely to be affected by geopolitical risk. Here is how various sectors of the Japanese property market have maintained their stability over the last year -
General
Information, News
Tokyo Star Bank Ltd. has introduced a unique service offering loans and accounts to non-residents looking to purchase real estate in Japan. Since the service launched last year, it has seen rapid growth, fueled by Japan’s weak yen and attractive low interest rates, which have sparked international interest in the country’s property market.
Investors/Business, General
Information, News
Japan's national net worth hit a record 3.999 quadrillion yen ($27 trillion) at the end of 2022, marking a 3.3% increase, the seventh consecutive year of growth. Produced assets, including housing and equipment, led the surge, reaching 2.17 quadrillion yen. Household wealth rose 0.5%, while nonfinancial companies' share increased by nearly a quarter to 756.1 trillion yen.
Investors/Business
News
The price of new apartments in Tokyo toppled a 30-year-old record in 2021 as rising demand from dual-income households and increasing construction costs boosted the Japanese capital’s once-moribund housing market. The mean price of new condos in the Japanese capital and surrounding areas hit 62.6 million yen ($550,000) last year, topping the 61.2 million yen high watermark set in 1990.