
On October 18, 2024, the Japan Electric Power Exchange (JEPX) announced the results of this fiscal year’s second baseload market auction. Only 12.1MW was contracted in the auction overall comprared to 56.1MW in the first auction and 103.7MW in last year’s second auction.
Of the total, 10.7MW was contracted in the Kansai area for delivery in FY2025 at 13.31 yen/kWh. The remaining 1.4MW was contracted in the Tokyo area for 15.65 yen/kWh. The prices were marginally higher than the 12.97 yen/kWh and 15.60 yen/kWh reached in this year’s first auction. No Kyushu area contracts were executed and no long-term products (2-year) were contracted.
The baseload market, established in 2019, allows new retailers to secure capacity, primarily from the former utilities and J-Power, through single-price auctions. The auctions are held four times each year (in July, September, November, and January), mainly for capacity to be delivered during the following fiscal year (April through March).