Okinawa Electric, Shikoku Electric File for Rate Hikes

Economy

Tokyo, Nov. 28 (Jiji Press)--Okinawa Electric Power Co. <9511> and Shikoku Electric Power Co. <9507> on Monday filed for government approval to raise regulated electricity rates next April.

They were the third and fourth power firms in Japan, after Tohoku Electric Power Co. <9506> and Chugoku Electric Power Co. <9504>, to file such applications since the Russian war in Ukraine started in February, driving up fuel costs.

Okinawa Electric aims to raise such rates for households by 39.3 pct, while Shikoku Electric plans to increase regulated rates by 28.08 pct on average.

The rate hikes, if approved, would be the first by Okinawa Electric since fiscal 1980 and by Shikoku Electric since fiscal 2013.

The monthly electricity bill for a standard household consuming 260 kilowatt-hours would rise by 3,473 yen from the current level to 12,320 yen in the service area of Okinawa Electric and by 2,205 yen to 10,120 yen in the Shikoku Electric area.

[Copyright The Jiji Press, Ltd.]

Jiji Press