TOKYO, Jan 23 (Reuters) – Tokyo Electrical Energy Firm Holdings (TEPCO) (9501.T) has utilized to the Japanese business ministry to spice up its energy costs to households by practically 30% from June on account of hovering gas procurement prices, the corporate stated on Monday.
The transfer follows 5 different Japanese electrical utilities which have already utilized to lift costs by between 28% and 46% from April because the business is squeezed by excessive prices of imported gas, exacerbated by the weak yen in opposition to the U.S. greenback.
The ministry will study particulars of the corporate’s price discount measures and resolve the precise worth enhance.
TEPCO additionally forecast it might fall right into a web lack of 317 billion yen ($2.4 billion) for the yr to March 31, in opposition to a 5.64 billion yen revenue a yr earlier, because of the surging costs of fossil fuels similar to liquefied pure fuel (LNG) and thermal coal, in addition to native wholesale electrical energy costs.
TEPCO has additionally determined to supply a 300 billion yen capital to its energy retail unit TEPCO Power Accomplice as its monetary well being has deteriorated on account of increased gas procurement price, it stated.
($1 = 130.1800 yen)
Reporting by Yuka Obayashi. Modifying by Jane Merriman
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