Japan Weighs $3 Billion Power Subsidies as LNG Crunch Bites

The Japanese government is considering a round of subsidies for electricity for a period of three months, Reuters reported today, citing unnamed sources. The price tag of the subsidies is seen at the equivalent of $3.1 billion. If approved, the subsidies will take effect in July and last until September, following a statement by the country’s industry minister who warned that the effects of higher LNG prices on the price of electricity will become palpable around June. Japan uses liquefied gas to generate electricity. Japan is the world’s…