Key facts
- Electricity futures in Japan and Europe reached four-year highs, Nikkei reported, citing the Hormuz closure and higher fuel costs.
- Power providers are using the futures market to lock in prices as a hedge against price fluctuations, the report said.
- The report says providers aim to avoid a repeat of the Ukraine crisis, without giving further detail.
Electricity futures prices in Japan and Europe have risen to four-year highs since the effective closure of the Strait of Hormuz drove up prices for liquefied natural gas and other fuels, Nikkei reported on November 10, 2026.
The report said power companies are using the futures market to lock in prices as a hedge against price fluctuations, and are doing more to hedge risks to avoid a repeat of the Ukraine crisis. It gave no price levels, no dates for the Hormuz closure and no detail on the Ukraine comparison.
An attached Bloomberg item dated November 9, 2026, headlined about Tohoku and Tokyo power prices hitting a four-year high on a cold snap, was not used: its page carried only a bot-check notice and no article text, and it attributes the move to a cold snap rather than the Hormuz closure.