Rising energy price, depreciating Yen and power shortage pose an ordeal for Japan’ economy
Electricity network in Tokyo was on the brink of a large-scale power outage in late March. The power supply is being imminent challenges for Japan’s economy. In late March, the Japanese government issued the first-ever warning over electricity availability for the first time in history, asking households and companies to cooperate in saving electricity, saying that the tight power supply and strong demand in Tokyo and the Tohoku region could lead to a large-scale power outage as some power plants remain offline following an earthquake that occurred in the Tohoku region on March 16. Larger than usual electricity consumption due to cold weather in late March also reduced spare capacity of power supply in the region. The supply capacity of Japanese electric power companies has been lacking for several years since many of Japan's nuclear reactors have been offline under stricter regulations introduced after the Great East Japan Earthquake in 2011 leaving the country dependent on ther...