Home   >   Family Finances   >   Why are electricity prices rising again in June?

Why are electricity prices rising again in June?

By on May 31, 2023

Power costs are set to rise, once again.

In June of last year, electricity rates leaped by about 10 to 20 percent compared to 2021, the highest it’s been in the past five years.

This was due to soaring price of natural gas and coal. The standard increase last year per household was 1,652 yen.

This time, the increase that will hit households in June is between 800 to 2,700 yen based on plans by seven major Japanese power providers.

The higher rates come after the industry ministry has approved household rate hikes of 15-43 pct on average for the power utilities, including Tokyo Electric Power Co. Holdings Inc.

How much bills will increase by depends on where you live and which energy provider you’re with. They are passing the cost to consumers to cover soaring price of  liquefied natural gas and coal for power generation.

The average-household electricity bill will rise by –

1,518 yen in areas covered by  Hokkaido Electric Power Co.,

1,621 yen in the Tohoku Electric Power Co. area,

881 yen in the TEPCO area,

2,196 yen in the Hokuriku Electric Power Co. area,

1,667 yen in the Chugoku Electric Power Co. area,

1,783 yen in the Shikoku Electric Power Co. area

2,771 yen in the Okinawa Electric Power Co. area.

But thanks to a halt in fuel price hike, the average-household bill will fall 177 yen in the Hokkaido Electric area, 296 yen in the Tohoku Electric area, 304 yen in the TEPCO area, 186 yen in the Hokuriku Electric area, 276 yen in the Chugoku Electric area, 190 yen in the Shikoku Electric area and 1,173 yen in the Okinawa Electric area.

That means the real increase to households covered by TEPCO starting in July is 576 yen.

About TF Tribe

Leave a Reply

Your email address will not be published. Required fields are marked *