
Japan Power Market Outlook 1H 2025
Fuel Costs Drag Prices
BloombergNEF expects Japan’s power prices to average ¥11 per kilowatt-hour ($76/megawatthour) in the coming two years. The 10% downward revision through October 2026 compared to 2H 2024 estimates is driven by a drop in fuel price, which outweighs a slightly tighter supply outlook to meet flat demand. Geopolitical impacts on fuel prices are just one of several uncertainties, including changing weather patterns, high solar penetration, rising thermal generator outages and data center demand.
Download this report to learn how to stay prepared and understand how shifts in fuel prices, the growth of renewable energy, and unexpected outages are driving uncertainty in Japan’s power market.
