Households across Japan are likely to get hit by massive electric bills this month, after the price of wholesale electricity there spiked from about 13 cents per kilowatt-hour in December to an unprecedented peak of more than $1 on Jan. 7. (The average Japanese household uses about 250 kWh per month. In the US, prices are typically 3-4 cents per kWh). By the week of Jan. 25, the price had fallen back to its previous level.What happened? The spike was partially a pandemic-related anomaly. But it was also an ominous sign of things to come for Asian countries working to curb their carbon footprints.The immediate cause of the spike was bad weather. Japan was hit by an unseasonable cold spell, se
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