Hokkaido Electric Files for Rate Hike of over 30 Pct

Tokyo, Jan. 26 (Jiji Press)--Hokkaido Electric Power Co. <9509> on Thursday filed for Japanese government approval for a plan to raise its regulated electricity rates for households by 32.17 pct on average.

The company, which serves the northernmost Japan prefecture of Hokkaido, submitted the application to the industry ministry, aiming to start charging the new rates June 1. The household rate hike would be the first by the firm since November 2014.

Hokkaido Electric also applied to increase fees for the use of its grid by power retailers by 2.7 pct.

The regulated rate hike will affect 2.4 million users. The monthly bill for a standard household using 230 kilowatt-hours is projected to increase by 2,647 yen to 11,509 yen.

The power grid usage fees for retailers will be hiked by 191 yen.

[Copyright The Jiji Press, Ltd.]