TOKYO – Several Japanese utilities are moving to seek permission to raise customers’ regulated power rate, the first such instances since the energy crisis andPower providers, including Hokuriku Electric Power and Chugoku Electric Power, will apply to the trade ministry to raise regulated rates for households, the companies said this week. Tohoku Electric Power and Shikoku Electric Power also said that they are considering an increase.
Resource-scant Japan has also been hit by the tumbling yen, which adds onto cost of importing fuel sold in dollars. The utility expects to see an operating loss of 100 billion yen for the fiscal year ending in March, according to its second-quarter earnings announcement on Thursday. The firm also announced it will not issue dividends for this fiscal year.
Source: Energy Industry News (energyindustrynews.net)
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