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| TEPCO to Raise Rates for Households Sat. | |
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| Tweet Topic Started: 1 Sep 2012, 01:49 AM (24 Views) | |
| skibboy | 1 Sep 2012, 01:49 AM Post #1 |
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TEPCO to Raise Rates for Households Sat. Tokyo, Aug. 31 (Jiji Press)--Tokyo Electric Power Co. will raise its electricity rates for households by 8.46 pct on average from Saturday by revising its pricing structure. It is the first time in 32 years that the firm's electricity charges for household users will be raised due to a review of its base rates. The household rate hike comes as TEPCO's earnings are deteriorating substantially on the back of ballooning fuel costs for thermal power generation amid the suspension of its nuclear power reactors. TEPCO's financial woes also reflect its massive compensation payments over the severe nuclear accident at its Fukushima No. 1 plant, which was knocked out by the March 11 earthquake and tsunami last year. If the company fails to reactivate its Kashiwazaki-Kariwa nuclear power plant in Niigata Prefecture, central Japan, it could be forced to implement an additional rate hike. Under its special restructuring program compiled earlier this year, TEPCO aims to restart the plant in April 2013 at the earliest. source:
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8:33 PM Jul 11