What is a power forward curve?

The electricity forward curve is a curve that represents the level of wholesale electricity prices at a specific point in the future that is considered fair at the present time. It shows a fair price that can be used as a reference when committing to future wholesale electricity transactions at the present time (such as in futures contracts). Note that this does not predict future JEPX spot market prices.

What is spot price forecasting?

Spot price forecasts predict prices on the JEPX spot market from the next day to several weeks in advance. They are calculated by taking into account supply and demand balance reflecting weather conditions, fuel prices, available interconnection lines, and recent trends in the spot market.

Which areas are you targeting with your content, such as forward curves?

MPX content is generally created for each of the former general electric utilities' service areas (9 areas excluding Okinawa).

How often are the forward curve and spot price forecasts updated?

The forward curve is updated once a day on business days for financial institutions, and the spot price forecast is updated twice a day.

What are the various types of MPX content being used for?

It is primarily used for pricing and market analysis in wholesale electricity trading. In addition, it is utilized in a wide range of decision-making processes within the electricity business, including fuel procurement, power plant operation planning, business plan creation, retail price pricing, and capital investment decisions.

Are the assumptions and model details for your forward curve and spot price forecasts publicly available?

The underlying supply and demand balance and fuel prices are publicly available on our website. We also provide materials explaining the model's details.

Is it possible for a user to specify preconditions to create a forward curve?

Customers cannot create forward curves by specifying their own assumptions. However, we offer a paid service in which we create and provide forward curves based on the assumptions you specify.

In what format will the data be provided?

In addition to viewing the data on the website, you can also obtain the data in CSV format and reports in PDF format.

Is your API publicly available?

While our basic service does not expose an API, our optional service, "MPX Analytics Platform," does. Please contact us for details.

Can we retrieve past broadcast data?

The basic service does not allow you to retrieve past delivery data. However, the optional "MPX Analytics Platform" service allows you to retrieve all past delivery data. Please contact us for details.

Are there any support or contact points available?

In addition to questions about how to use the service and interpret the data, we also accept inquiries at any time regarding market conditions and regulatory interpretations. Furthermore, our staff may visit you periodically to address any questions you may have and to provide follow-up information such as market updates.

Do I need to install any apps or software to use this service?

This service is accessed via a website and does not require the installation of any special applications.

Approximately 80 companies ^*, from former general electric utilities to new power companies and end users, are using it
Must-have item for the power business

MPX-Forwards

^* As of the end of February 2026

Adopting Companies

MPX-Forwards has been adopted by a variety of customers.
Here, we introduce some of our customers who have given us permission to publish their information.

Service Overview

Common problems faced by those in the power business

"We want to analyze the factors behind past increases and decreases in electricity prices and use that analysis to make future forecasts, but the publicly available data on electricity is scattered across various sources, and just organizing the necessary information takes a lot of time and effort."
"Furthermore, we don't know how to analyze the collected information."

Solution by MPX-Forwards

In addition to providing outlooks for wholesale electricity prices (power forward curves and spot price forecasts), it also offers an interface that enables users to intuitively grasp the relationship between prices and fundamentals, making market analysis easy.

Service Features

01

Providing price forecasts that reflect the latest fundamentals
- We provide price forecasts that reflect the latest developments regarding fundamental changes such as those listed below.
  - Increased electricity demand expected due to the construction and expansion of data centers and semiconductor factories.
  - Outlook for restarting existing nuclear power plants
  - Outlook for the introduction of renewable energy
  - Projections for the closure of inefficient coal-fired power plants, etc.
02

Market reports and Q&A responses by analysts
- In addition to providing data, our analysts regularly conduct market reports. We also accept Q&A regarding market conditions as needed.
- Through dialogue with analysts, it is possible to deepen your understanding of the power industry.

In-depth analysis of hot topics in the monthly report

We provide a monthly report analyzing hot topics related to the power industry.

Reference) Example of a recent monthly report agenda

Year	Month	Title
2025	Apr.	Accident Factors Pertaining to the Chugoku–Shikoku Cross-Regional Interconnection and Considerations for Information Disclosure
	May.	Trends in the occurrence of 0.01 Yen/kWh market price
	Jun.	Recent trends in price decline
	Jul.	Progress in the optimization of LNG thermal power plant operations
	Aug.	Decomposition of factors driving variability in electricity demand
	Sep.	Contract status and price trends in balancing market (composite products)
	Oct.	Price trends in balancing market (tertiary balancing capacity ②)
	Nov.	Analysis of current state of inefficient coal-fired power plants
	Dec.	Long-cycle fluctuations in renewable energy output
2026	Jan.	Impact of the GX-ETS (Emissions Trading Scheme) on Power Generation Costs

Frequently Asked Questions

What is a power forward curve?: The electricity forward curve is a curve that represents the level of wholesale electricity prices at a specific point in the future that is considered fair at the present time. It shows a fair price that can be used as a reference when committing to future wholesale electricity transactions at the present time (such as in futures contracts). Note that this does not predict future JEPX spot market prices.

What is spot price forecasting?: Spot price forecasts predict prices on the JEPX spot market from the next day to several weeks in advance. They are calculated by taking into account supply and demand balance reflecting weather conditions, fuel prices, available interconnection lines, and recent trends in the spot market.

Which areas are you targeting with your content, such as forward curves?: MPX content is generally created for each of the former general electric utilities' service areas (9 areas excluding Okinawa).

How often are the forward curve and spot price forecasts updated?: The forward curve is updated once a day on business days for financial institutions, and the spot price forecast is updated twice a day.

What are the various types of MPX content being used for?: It is primarily used for pricing and market analysis in wholesale electricity trading. In addition, it is utilized in a wide range of decision-making processes within the electricity business, including fuel procurement, power plant operation planning, business plan creation, retail price pricing, and capital investment decisions.

Are the assumptions and model details for your forward curve and spot price forecasts publicly available?: The underlying supply and demand balance and fuel prices are publicly available on our website. We also provide materials explaining the model's details.

Is it possible for a user to specify preconditions to create a forward curve?: Customers cannot create forward curves by specifying their own assumptions. However, we offer a paid service in which we create and provide forward curves based on the assumptions you specify.

In what format will the data be provided?: In addition to viewing the data on the website, you can also obtain the data in CSV format and reports in PDF format.

Is your API publicly available?: While our basic service does not expose an API, our optional service, "MPX Analytics Platform," does. Please contact us for details.

Can we retrieve past broadcast data?: The basic service does not allow you to retrieve past delivery data. However, the optional "MPX Analytics Platform" service allows you to retrieve all past delivery data. Please contact us for details.

Are there any support or contact points available?: In addition to questions about how to use the service and interpret the data, we also accept inquiries at any time regarding market conditions and regulatory interpretations. Furthermore, our staff may visit you periodically to address any questions you may have and to provide follow-up information such as market updates.

Do I need to install any apps or software to use this service?: This service is accessed via a website and does not require the installation of any special applications.

MPX-Forwards

Service Overview
Service Features
Frequently Asked Questions

MPX-Forwards

Adopting Companies

Service Overview

Common problems faced by those in the power business

Solution by MPX-Forwards

Service Features

Providing price forecasts that reflect the latest fundamentals

Market reports and Q&A responses by analysts

In-depth analysis of hot topics in the monthly report

Frequently Asked Questions