Tepco applies for a 29.31% rate hike on households.

By on January 24, 2023

High power bills are already making life difficult for many Tokyo households – and they face the daunting prospect of a further hike in June.

On Monday, Tokyo Electric Power Company Holdings Inc. or TEPCO has applied for government approval to raise its rates for households by an average 29.31 percent, citing a decline in earnings due to surging price of liquefied natural gas and other fuels.

TEPCO submitted the application to the industry ministry, aiming to start the new rates in June to improve its business earnings directly impacted by soaring fuel prices, Ukraine’s invasion by Russia and the weakening yen.

About TF Tribe