Japanese power firms seek price hikes, adding to household burden

Most major utilities have sought to raise their electricity rates by around 30 percent to over 40 percent for the next fiscal year, in a move that will likely add to the burden on households expenses.

Seven of the 10 largest electricity companies have applied to the industry ministry to raise regulated electricity rates for households, which requires government approval.

Of the 10 companies, nine expect a net loss for the current fiscal year to March due to increases in the price of gas and coal needed for thermal power plants.

As a relief step, the government will start providing subsidies to...