• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day Could Someone Give Me Insights on the Future of Renewable Energy?
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 6 hours e-truck insanity
  • 3 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 5 days Bankruptcy in the Industry
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days The United States produced more crude oil than any nation, at any time.
Anglo-American's Share Price Soars on BHP Buyout Talks

Anglo-American's Share Price Soars on BHP Buyout Talks

BHP's proposed acquisition of Anglo…

Geopolitical Tensions Fail to Spark Oil Price Surge

Geopolitical Tensions Fail to Spark Oil Price Surge

The fluctuating prices in response…

Japan Asks People And Firms To Save Electricity To Avoid Blackouts

Japan on Tuesday called on households and companies to conserve as much electricity as possible this summer, seeking to prevent blackouts as spare reserve capacity is expected to drop to critically low levels.

The nationwide energy-conservation effort will be implemented from July 1 to September 30, amid concerns that Japan’s power system may not handle demand in peak summer. Air conditioning should be set at 28 degrees Celsius (82 F), and the public should turn off all unnecessary lights, the government said.

Japan has been slowly restarting some of its nuclear power plants after the Fukushima disaster, but it has been closing down thermal coal power plants in order to advance on its target to reach net-zero emissions by 2050.

However, in the global energy crisis—exacerbated by the Russian invasion of Ukraine—supply could not be enough to meet demand. Japan is one of the world’s largest importers of liquefied natural gas (LNG), but most of Asia has been recently priced out of the spot LNG market by Europe, which is paying whatever it takes to ensure enough gas in storage before next winter.

Speaking at a news conference on Tuesday, Japan’s Industry Minister Koichi Hagiuda said as carried by Reuters: “We will take every possible measure to ensure supply, including the restart of idle power plants, additional procurement of fuels, and the maximum use of renewables and nuclear power.”

Japan is the latest of the U.S. allies warning of potential power cuts, and asking the public and companies to conserve energy.

Last month, Spain, for example, passed a decree limiting the use of air conditioning in public buildings as part of a strategy to conserve energy and reduce Europe’s dependence on Russian gas. Spain itself does not depend on gas from Russia, but its government is working to increase energy efficiency as the European Union looks to reduce reliance on Russian gas by two-thirds by the end of this year alone. The limits to the use of air conditioning measures are expected to apply “whenever it is technically possible,” and are part of the goal to reduce consumption and bills.

Switzerland, another country in Europe, although not a part of the EU, would see its power supply uncertain for next winter, and troubles with enough electricity capacity cannot be ruled out, the Swiss Federal Electricity Commission, Elcom, said last week.

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News