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Jan. 15, 2026 TOCOM TOCOM Electricity Futures Surge in 2025 - Market Hits Historic High Amid Explosive Growth

In 2025, the annual trading volume of electricity futures on Tokyo Commodity Exchange (TOCOM) reached approximately 4,583 GWh, about five times higher than the previous year and setting a new all-time high. Notably, East Area Baseload Electricity Futures increased about fivefold year-on-year, and West Area Baseload Electricity Futures grew about threefold. In addition, the launch of fiscal-year contracts in May 2025 also played a significant role in driving the rapid expansion of TOCOM’s electricity futures market.

TOCOM’s Initiatives to Activate Electricity Futures Market

As the need for hedging against electricity price fluctuations continues to rise, TOCOM is strengthening its efforts to further develop the electricity futures market. From 2025, with the cooperation of market makers, TOCOM has been working to narrow bid-ask spreads. Furthermore, TOCOM launched fiscal-year contracts in May 2025, to meet the hedging needs aligned with the fiscal years of many Japanese companies. These contracts saw active trading immediately after launch, recording approximately 771 GWh in 2025, and have become one of the main drivers of the significant increase in the TOCOM electricity futures trading volume.

To help more participants experience the benefits of TOCOM electricity futures trading, TOCOM has been running a discount campaign since September 2025, reducing the fees for electricity futures trading (the total of fixed participation fees and clearing fees) by half.

Chubu Area Electricity Futures to Be Listed from April 2026

From April 13, 2026, TOCOM plans to list Chubu Area Electricity Futures. Hedging against electricity prices in the Chubu region, where electricity demand from the automotive industry and households is relatively large, will also become possible on TOCOM's electricity futures market.

TOCOM will continue to enhance the convenience and attractiveness of its electricity futures market, delivering a robust trading environment for power utilities and other market participants.

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