Kansai Electric eyes 11 pct household electricity rate hike from AprilComtex News Network
TOKYO, Nov 26, 2012 (Xinhua via COMTEX) -- Kansai Electric Power Co. on Mondayapplied to hike household electricity rates by an average 11.88percent from April 1, after business conditions worsened due torising fuel caused by the loss of atomic energy.
The Osaka-based company would become the first utility afterTokyo Electric Power Co. to raise the electricity rate since theFukushima Daiichi nuclear power plant disaster last year.
If Kansai Electric's application was approved, it would be itsfirst rate hike based on a thorough cost review since 1980,according to Kyodo News.
Economy, Trade and Industry Minister Yukio Edano, who has theauthority to approve the rate hike, has said earlier that hisministry will "strictly examine" the costs the utility seeks topass on to consumers.
The utility also announced on Monday that it has decided toraise electricity bills for corporates by an average 19.23 percentfrom April, a move which does not need approval from thegovernment.