Electricity prices are set to hit the highest level in five years this month on the back of energy market chaos set off by Russia’s invasion of Ukraine, a development that will likely cause even more financial pain for consumers in Japan, which is set for a scorching summer with above-average temperatures.
The nation's 10 major utility firms announced earlier this year that electricity rates in June were set to jump between about 10% and 20% from the previous year, prompting some municipalities to take action, from providing relief to households and businesses to offering tips on how to save energy.
For instance, the Tokyo Metropolitan Government kicked off a campaign last week to encourage people to use easy, free or low-cost means to improve energy efficiency, such as adjusting air conditioner settings or covering windows, thereby helping to save energy and money.