As part of the campaign, which is expected to last until late March 2023, Japanese authorities are going to grant 2,000 yen ($14) in bonuses to every household and 200,000 yen ($1,400) to companies registered in the program. If they manage to decrease their electricity consumption by 3% compared to last year, the government will award additional bonuses worth 1,000 yen ($7) and 20,000 yen ($140) to households and companies, respectively.
People are being asked to switch off the light when not needed, wear warmer clothes indoors and lower heating temperatures in their houses, among other measures recommended by the government.
According to Japanese government estimates, the reserve supply capacity of electricity in the country's capital, Tokyo, in January could be the tightest in years, accounting for just 4.1%, which is slightly above the critical level of 3%.
"We will take all possible measures to secure stable electricity supply," Japanese Minister of Economy, Trade and Industry Yasutoshi Nishimura was quoted by the Japan Times as saying.
It is the first power-saving program launched across Japan since 2015 when the country's nuclear reactors were out of operation in the wake of the nuclear disaster at the Fukushima nuclear power plant in 2011.
Many countries around the world – especially in Europe – have had to resort to contingency plans and save electricity amid a fully-fledged energy crisis. The world saw record-high fuel prices and a wave of inflation after the US, Britain, the European Union and their allies, including Japan, slapped sanctions on Russia.
The sanctions exacerbated various issues on already-volatile global energy markets and disrupted supply chains around the world, as the global economy attempted to rebound following the pandemic.