TOKYO (UrduPoint News / Sputnik – November 01, 2022) The Japanese authorities have decided to impose an energy saving policy of December 1, 2022 later March2023 due to fears of power shortages this winter, a measure introduced for the first time in seven years, Economy Minister Yasutoshi Nishimura said on Tuesday.
“We have also decided to restart the mothballed plants and to buy additional volumes of fuel,” added the minister.
The authorities will also introduce bonuses for households that succeed in reducing their monthly energy consumption by at least 3% compared to last year’s level.
Last week, the Kyodo new the agency reported that Japan would cut the housework electricity bills by around 20% early next year as part of a new economic package designed to mitigate the negative impact of inflation on people’s lives.
The prices in Japan increased for 13 consecutive months. The increase is mainly caused by soaring prices of energy resources, which Japan is obliged to import in large quantities, and the low swap japanese rate Yen against the United States Dollar.