Kansai Electric eyes 11% household electricity rate hike from April

2012-11-26 06:55:50 GMT2012-11-26 14:55:50(Beijing Time)  Xinhua English

Kansai Electric Power Co. on Monday applied to hike household electricity rates by an average 11.88 percent from April 1, after business conditions worsened due to rising fuel caused by the loss of atomic energy.

The Osaka-based company would become the first utility after Tokyo Electric Power Co. to raise the electricity rate since the Fukushima Daiichi nuclear power plant disaster last year.

If Kansai Electric's application was approved, it would be its first rate hike based on a thorough cost review since 1980, according to Kyodo News.

Economy, Trade and Industry Minister Yukio Edano, who has the authority to approve the rate hike, has said earlier that his ministry will "strictly examine" the costs the utility seeks to pass on to consumers.

The utility also announced on Monday that it has decided to raise electricity bills for corporates by an average 19.23 percent from April, a move which does not need approval from the government.

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