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Can Japan Keep the Lights On? The Ukraine War Upends a Big Energy Bet.



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However, the sudden surge in prices in early 2021 blindsided the company, which had not prepared for the possibility of a major jump in costs, according to a statement it released when it declared bankruptcy.Masaru Tagami, who is in charge of facilities procurement for the central Japanese city Hida, one of Hope Energy’s former clients, said it had been caught off guard by the company’s “sudden” collapse and the rise in costs as its business was handed to another firm.The city’s annual electric bill is expected to rise 40 percent, he said, adding that the situation had played havoc with its budget. “I am seriously worried about how long these circumstance …

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