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information about Fukushima published in English in Japanese media info publiée en anglais dans la presse japonaise

New rate hike (Chubu)

October 27, 2013

 

Idled reactors force another utility rate hike

http://www3.nhk.or.jp/nhkworld/english/news/20131027_11.html

 

All-out idling of the nuclear reactors in the country is not only increasing Japan's trade deficit from oil imports, but also affecting family finances.

Japan's 3rd largest electric utility, Chubu Electric Power Company, says it will seek rate hikes starting in April of next year.

The Nagoya-based utility says it's likely to generate losses for the 3rd straight year in fiscal 2013 due to increasing fuel costs at its thermal power plants.

The firm's Hamaoka nuclear plant on the Pacific coast was idled soon after the Fukushima Daiichi nuclear crisis in 2011 due to the possible risk of a future earthquake and tsunami.

The firm will apply for rate increases of around 5 percent for families and 8 to 10 percent for companies from fiscal 2014.

The government will examine the utility's efforts for cost-cutting, including payroll expenses, before approving the rise.

Chubu Electric will be the 7th of 10 regional utilities to raise rates.

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