Publication date: Sept 20, 2024 Government Working Group Kicks off Plans for New Emissions Trading System Japan’s Cabinet Secretariat held the first meeting of the Carbon Pricing Expert Working Group (WG) on September 3, 2024. This WG was established to finalize the detailed design of the emissions trading system (ETS) in preparation for its full-scale …
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Publication date: Sept 5, 2024 August 2024 Monthly Newsletter Friends and Colleagues, As we transition from one of the hottest summers on record into the slightly cooler days of September, Japan’s energy sector remains as dynamic as ever. In this month’s newsletter, we delve into the strategic developments as the country gears up for Round 4 …
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Publication date: Sept 6, 2024 GX Implementation Council Adapts 40-Year Vision to Address Increasing Demand From Digital Growth Sectors The Green Transformation (GX) Implementation Council is holding meetings to develop its “GX 2040 Vision”, a new national strategy that will guide decarbonization and industrial policy up to 2040. The strategy is set to be shaped …
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Publication date: Aug 30, 2024 The Impact of Temperature and Weather on Japan’s Wholesale Electricity Market Temperature and climate change significantly influence Japan’s wholesale electricity market. Temperature fluctuations, such as hot summers and cold winters, impact electricity demand due to the increased use of heating and cooling systems, which in turn influences market prices. Weather …
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Publication date: Aug 30, 2024 JEPX Introduces Tracking Information for All Non-Fossil Certificates The full tracking of all Non–Fossil Certificates (NFCs) began earlier this month at the first NFC auction of the fiscal year. Traded via the Japan Electric Power Exchange (JEPX), all NFCs will now include information such as the type of power generation, …
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Publication date: Aug 23, 2024 METI and MoE to Define Environmental Monitoring Roles for Government and Offshore Wind Operators Japan’s Ministry of Environment (MoE) held the first meeting of a new study group that will discuss matters relating to monitoring the environmental impact of offshore wind projects. Earlier this year, the Central Environment Council released …
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Publication date: Aug 16, 2024 Japan’s GX League Forms Working Groups for “Market Rule-Making” Initiative Japan’s “Green Transformation” initiative, “the GX League” has announced the formation of three key Working Groups as part of its 2024 Market Rule Formation Forum: GX Product Social Implementation Promotion WG: This group, led by the Ministry for Economy, Trade …
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Publication date: Aug 13, 2024 Japan to Provide Incentives for Industry in Regions With Decarbonized Power The Japanese government will promote industrial clustering in regions with more decarbonized power sources such as renewable energy and nuclear power, by offering corporate tax incentives and subsidies. This vision was presented during the GX2040 Leaders Panel, an expert …
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Publication date: August 5, 2024 July 2024 Monthly Newsletter Welcome to the July edition of our monthly newsletter. As the rainy season recedes and the nation continues to experience above-average temperatures, electricity demand is surging, causing tight supply-demand situations in the Tokyo area and sudden spikes in wholesale prices. Amid these developments, Japan’s power market …
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Publication date: Aug 2, 2024 TOCOM’s Power Futures Trading Volume Jumps Sharply in Q2, Lags EEX Trading of power futures on the Tokyo Commodity Exchange (TOCOM) has surged, with volumes from April to June 2024 reaching 397GWh, eight times higher than the previous quarter and the second highest quarterly total on record. The exchange’s busiest …
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