en.Wedoany.com Reported - On August 2, the International Energy Agency recently released a report stating that shipping disruptions in the Strait of Hormuz led to Japan's average wholesale electricity spot price reaching $90 per 1,000 kilowatt-hours in the second quarter of this year, approximately 30% higher than the same period last year.

Japan's Kyodo News, citing the IEA report on August 1, reported that the shipping disruptions in the Strait of Hormuz caused a halt in liquefied natural gas supplies from the Middle East, leading to the aforementioned impact. The report stated that with the growth in electricity demand driven by extreme heat and the prolonged blockade, electricity prices are likely to continue their upward trend. The report projects that Japan's average wholesale electricity price in the second half of 2026 will reach $105 per 1,000 kilowatt-hours, a year-on-year increase of approximately 40%.

Data from Japan's Agency for Natural Resources and Energy shows that thermal power generation fueled by liquefied natural gas accounts for about 30% of Japan's total electricity output, making electricity prices highly susceptible to fluctuations in the international LNG market.