Seven Japanese power utilities — Hokkaido, Tohoku, Hokuriku, Tokyo, Chugoku, Shikoku and Okinawa Electric Power — will raise regulated retail power prices by 15.9-39.7pc from June compared with May.
Seven out of 10 Japanese utilities, excluding Chubu, Kansai and Kyushu Electric Power, secured an approval from the government on 16 May to raise their regulated retail power prices, so that they can pass on more of their swelling thermal generation fuel costs to consumers. But the seven utilities were required to submit revised applications, based on recent falls in fuel prices. All utilities submitted requests for lower price rises than the original plan.
Regulated retail power prices will rise by an average of 23.22pc in Hokkaido, 25.47pc in Tohoku, 39.7pc in Hokuriku, 15.9pc in Tokyo, 26.11pc in Chugoku, 28.74pc in Shikoku and 33.3pc in Okinawa from 1 June, if the trade and industry ministry Meti approves the revised proposal. Hokuriku, which requested the highest rate of prices increases, said customers who earlier paid ¥6,200/month ($45.6/month) for electricity will have to pay ¥8,748/month from June.
The country's power consumers have already received support from the government in the form of subsidies since January ahead of this price increase. The subsidy to households covers around 20pc of current typical electricity bills, although the support will end in September.
