On the 10th anniversary of the meltdown at Fukushima Daiichi nuclear power station, we take a closer look at the disaster’s lasting legacy of higher electricity prices. On the eve of the pandemic electricity prices were 32% above where they were in February 2011 despite energy import prices falling over the same period. That has prompted firms and consumers to sharply economise their electricity usage. One positive consequence of such a shift is that Japan’s economy is now less sensitive to oil price shocks. As such, even if the rise in oil prices over the last few weeks continues, we doubt it would hold back Japan’s recovery much.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services