According to Reuters, after electricity prices reached 103.1 yen ($1)/kWh on January 6, 2020, Japanese energy regulators say they have increased scrutiny of the electricity market.[1] Electricity prices on the Japan Electric Power Exchange (JPEX) have surged since December 2020 and are now at the highest level since trading started in 2005. Colder-than-normal winter weather has increased demand for heating. At the same time, many power producers have had to lower run rates or suspend operations due to delayed imports of liquefied natural gas (LNG). According to Yoshiaki Kuroda, the director of market policy planning, the Electricity and Gas Market Surveillance Commission closely monitoring trading on JPEX. So far, the commission has not found any improper trades. The Organization for Cross-regional Coordination of Transmission Operators (OCCTO), Japan’s electricity grid coordinator, also stepped in to avoid power shortages in Tokyo and Osaka. OCCTO directed power suppliers to operate at full capacity and offer surplus supplies to the market.

[1] https://www.reuters.com/article/japan-electricity-idUSL1N2JH0YD