Japan's 10 Major Power Firms to Cut Rates in Feb.

Tokyo, Dec. 27 (Jiji Press)--Japan's 10 major power utilities said Tuesday that they will lower their electricity rates for February thanks to government subsidies aimed at cushioning the impact of higher prices.

A standard household is expected to see a decline of nearly 2,000 yen.

In the service area covered by Tokyo Electric Power Company Holdings Inc. <9501>, fees at a standard household using 260 kilowatt-hours of electricity a month is projected to decline by 1,820 yen from January to 7,306 yen.

The government plans to provide 7 yen per kilowatt-hour of electricity used in January-August next year and 3.5 yen in September.

But seven of the 10 utilities including Tohoku Electric Power Co. <9506> are considering raising their restricted household rates substantially. Five of them have applied for regulatory approval to raise them by 30 to 40 pct in April due to higher fuel costs.

[Copyright The Jiji Press, Ltd.]