Shulman Advisory

Year in review 2025 (Dec 2025)

Publication date: Dec 22, 2025  Year in review 2025 (Dec 2025) Policy  Proposed advanced procurement and Mid-Long Term Market to reshape retailer risk In July, METI’s Working Group proposed a new requirement for electricity retailers to secure a certain proportion of their future electricity supply volume (in kWh) in advance, with the aim of stabilizing …

PowerX to List on TSE Growth Market as Domestic BESS Market Expands

Publication date: Dec 21, 2025  PowerX to List on TSE Growth Market as Domestic BESS Market Expands PowerX has received approval from the Tokyo Stock Exchange and will list on the TSE Growth Market on December 19. Founded in March 2021, the company manufactures and sells large-scale battery energy storage systems (BESS) for grid-scale and …

Japan’s BESS Moment: Strategic Opportunity or Speculative Trap?

Publication date: Dec 17, 2025  Japan’s BESS Moment: Strategic Opportunity or Speculative Trap? Why international developers need more than optimism to navigate Japan’s battery storage gold rush. — Professor Hiroshi Takahashi of Hosei University recently made a compelling case in Nikkei GX for Japan to formally integrate battery energy storage system (BESS) capacity targets into …

Tightening Balancing Market Design Could Reshape BESS Strategies

Publication date: Dec 15, 2025  Tightening Balancing Market Design Could Reshape BESS Strategies At a recent expert meeting held in late October 2025, METI proposed two changes  for Primary Reserve (FCR) and Secondary Reserve I (S-FRR) in the balancing market: 1. Reducing the procurement volumes by 50–80%starting from FY2026. 2. Lowering the price caps by …

Prices Hit Cap in Second FY2025 NFC Auction as Non-FIT Volumes Rise

Publication date: Dec 9, 2025  Prices Hit Cap in Second FY2025 NFC Auction as Non-FIT Volumes Rise The Japan Electric Power Exchange (JEPX) has released the results of the second-round of the Non-Fossil Value Trading Market (or Non-Fossil Certificate (NFC) Auction) for FY2025. Prices for Non-FIT (Feed-in-Tariff) NFCs, both certificates “without renewable energy designation”, mainly …

The Role of LNG in Japan’s Energy Transition and Upcoming GX-ETS Impacts

Publication date: Dec 1, 2025  The Role of LNG in Japan’s Energy Transition and Upcoming GX-ETS Impacts Despite the Japanese government’s recent push to significantly increase the share of renewable energy in the energy mix, Japan still relies heavily on thermal power (natural gas, coal, and oil) for about 70% of total generation. Among the …

Japan Revises Offshore Wind Auction Rules Ahead of First Round Re-Auction

Publication date: Dec 1, 2025  Japan Revises Offshore Wind Auction Rules Ahead of First Round Re-Auction The Ministry of Economy, Trade and Industry (METI) and the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) jointly held an expert meeting to review the offshore wind (OSW) auction system and presented a new set of proposed evaluation …

Government Details Tender Process for Selecting GX Data-Center Clusters

Publication date: Nov 22, 2025  Government Details Tender Process for Selecting GX Data-Center Clusters The Working Group (WG) of Public-Private Advisory Council on Watt-Bit, which focuses on effective coordination between power and telecommunication, has outlined the details for selecting Data Center (DC) Clusters based on GX (green transformation) Strategic Areas through a public tender process. …

Japan Outlines 2050 Roadmap for Introducing Next-Generation Geothermal

Publication date: Nov 17, 2025 Japan Outlines 2050 Roadmap for Introducing Next-Generation Geothermal Japan Outlines 2050 Roadmap for Introducing Next-Generation Geothermal The public-private council on next-generation geothermal power has finalized a 2050 roadmap to introduce the technology, with the roll out beginning in 2030. The plan states that the previously indicated installation target of 7.7 …

Rethinking Renewable Procurement: How GHG Protocol Reforms May Reshape Japan’s Corporate Market

Publication date: Nov 14, 2025 Rethinking Renewable Procurement: How GHG Protocol Reforms May Reshape Japan’s Corporate Market Corporate decarbonization reporting is about to change. The next revision of the GHG Protocol will reshape how organizations measure and verify their Scope 2 electricity emissions. In Japan, a growing number of companies, particularly those with global operations, …