June 27, 2008
4 Japan Power Suppliers Likely to Raise Rates
Tokyo, June 27 (Jiji Press)--Four Japanese power suppliers on Friday unveiled plans to overhaul their rate structures as early as September, a move that could lead to steep rate hikes in January.
Kansai Electric Power Co. , Chugoku Electric Power Co. , Shikoku Electric Power Co. and Hokkaido Electric Power Co. joined industry leader Tokyo Electric Power Co. , which on Thursday announced plans for a similar overhaul.Tohoku Electric Power Co. and Kyushu Electric Power Co. plan to make final decisions next month, while Okinawa Electric Power Co. intends to decide whether to follow suit after watching the moves of rivals.
At present, electric power suppliers are allowed to revise rates every three months to reflect fuel price fluctuations within a basic fuel cost boundary. But their rate hikes have already reached their limit due to a recent surge in crude oil prices.END
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