The yen’s rapid weakening means Japanese utilities may no longer be able to protect households from the worst of the global energy crisis, setting the stage for a winter of higher electricity bills in a country that is not not yet accustomed to galloping inflation.
While fuel prices have hit new highs this year, the impact on Japanese households has so far been limited by government regulations that limit price increases. Coal import costs tripled last year and the price of natural gas doubled, but Tokyo residents are only paying about 25% more.
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