All 10 Major Japan Power Firms to Raise Household Rates in May

Tokyo, March 30 (Jiji Press)--All of Japan's 10 major electricity suppliers said Wednesday that they will raise their household rates in May.

The hikes come as prices for liquefied natural gas and coal used at thermal power plants are soaring due to Russia's war in Ukraine and as households' burden of sustaining the government's feed-in tariff renewable energy incentive program is increasing.

Of the 10, five firms--Hokuriku Electric Power Co. <9505>, Kansai Electric Power Co. <9503>, Chugoku Electric Power Co. <9504>, Shikoku Electric Power Co. <9507> and Okinawa Electric Power Co. <9511>-- will raise their rates by 24 yen only to reflect the rise in the renewable energy charge, because the prices for power they supply reached last month the upper limit set under the fuel price-linked calculation system

TEPCO Energy Partner Inc. will hike its rate for a standard household by 146 yen to 8,505 yen, the steepest increase among the remaining five firms.

Nine suppliers will raise rates for corporate customers.

[Copyright The Jiji Press, Ltd.]