Kepco's price hike approved by Govt.

May 15, 2015

Government approves 8.36% price hike for Kepco

http://www.japantimes.co.jp/news/2015/05/15/business/corporate-business/government-approves-8-36-price-hike-kepco/#.VVdD9pPwmic

JIJI

The government on Friday approved hiking electricity rates for Kansai Electric Power Co.’s household subscribers by an average of 8.36 percent, effective June 1.

Kansai Electric will, however, limit the hikes to 4.62 percent on average for the first four months to lessen the burden on customers during the summer, when air conditioners cause electricity bills to swell.

Kansai Electric will become the second utility after Hokkaido Electric Power Co. to carry out a second round of full-fledged rate hikes since the March 2011 nuclear crisis began at Tepco’s crippled Fukushima No. 1 plant, leading to a prolonged spell without atomic energy.

Kansai’s first round of hikes, in May 2013, averaged 9.75 percent. It then applied for government approval for another set of increases last December, saying its earnings had deteriorated mainly because of delays in the restart of the No. 3 and No. 4 reactors at its Takahama nuclear power plant in Fukui Prefecture.

The government will call on the regional power supplier to cut the rates in the event that idled reactors are restarted, officials said.