TEPCO widens loss in April-June as war in Ukraine raises fuel prices

Economy

Tokyo Electric Power Company Holdings Inc. said Tuesday its net loss expanded to 67.10 billion yen ($513 million) for the three months ended June from 3.03 billion yen a year ago, as Russia's invasion of Ukraine caused fuel prices to soar. The widened loss came as the company was forced to pay more for coal and liquefied natural gas for its thermal power operations, the company said. Meanwhile, sales rose 50.7 percent to 1.48 trillion yen for the period as the higher cost of energy was partly passed onto customers. The utility, also known as TEPCO, did not reveal its earnings forecast for the ...

Kyodo News

Kyodo News