STOCKS | Japan Power Prices Jump as LNG Costs Stay High and Rain Curbs Solar Output

Japan's spot power price rose to 24.13 yen per kilowatt-hour on Monday. According to Sina Finance, LNG prices remained elevated, and an approaching typhoon is expected to curb solar power generation this week. Japan's next-day power price also hit its highest level since Wednesday, despite cloudy weather nationwide that brought temperatures down. According to Sina Finance, the main Northeast Asia LNG spot benchmark JKM stayed high at $24.025 per million British thermal units amid market concerns that disruption to shipping through the Strait of Hormuz could persist for a long time. European gas prices also rose on Monday, with power prices in Europe climbing to 75.005 euros per megawatt-hour, or $87.12. According to Sina Finance, Japan's Meteorological Agency said typhoons and cloudy weather this week may bring heavy rain to Japan and push temperatures below 30 degrees Celsius. The agency issued landslide and heavy-rain warnings for Chiba Prefecture on Monday, with 24-hour rainfall there expected to reach 80 millimeters. According to Sina Finance, forecasters expect Tokyo temperatures to fall to 27-31 degrees Celsius this week, while temperatures in central and Hokuriku regions may drop below 24 degrees Celsius. Typhoon Koro-wan is currently circling near Okinawa and is expected to move toward the coast of Kyushu on Tuesday. According to Sina Finance, cloudy weather is expected to keep this week's solar power output below the 30-day historical average, with peak output in eastern Japan forecast at 15,060 megawatts on Saturday and 24,581 megawatts in western Japan.