Japan wholesale power prices set to surge 40% on LNG costs, IEA forecasts

EnergyReliance on natural gas imports leaves country more vulnerable than other economiesJapan relies heavily on imported liquefied natural gas, Asian prices for which tend to rise along with crude oil. (Photo by Shun Kato)MASATOSHI IDAAugust 26, 2026 02:53 JSTTOKYO -- Average wholesale electricity prices in Japan are forecast to jump nearly 40% on the year in the second half of 2026, according to the International Energy Agency, reflecting higher liquefied natural gas prices due to the turmoil in the Middle East.