Tohoku Elec. Seeks Govt Approval for Household Rate Hike
Tokyo, Nov. 24 (Jiji Press)--Japan's Tohoku Electric Power Co. <9506> on Thursday filed for government approval for plans to raise its regulated electricity rates for households by an average of 32.94 pct next April.
The power supplier, which mainly serves the Tohoku northeastern region, submitted the application to the industry ministry, concluding that a rate hike is necessary to stably procure fuel for power generation and secure funds for facility repairs amid soaring prices of energy and other goods.
It became the first Japanese power company to file such an application since the launch of Russia's invasion of Ukraine in February, which has pushed up energy and other prices.
Among other major power suppliers, Hokuriku Electric Power Co. <9505>, Chugoku Electric Power Co. <9504>, Shikoku Electric Power Co. <9507> and Okinawa Electric Power Co. <9511> will submit similar rate hike applications by the end of this month at the earliest.
Tokyo Electric Power Company Holdings Inc. <9501> will follow suit in December or later.
[Copyright The Jiji Press, Ltd.]