Tokyo Electric Power Co. is desperately trying to raise prices to cover the drastic rise in thermal fuel costs caused by its triple-meltdown disaster at the poorly protected Fukushima No. 1 power plant.
The utility, which is on the verge of nationalization, is effectively being propped up by taxpayers, who are footing the bill for its efforts to contain the crisis and pay what will undoubtedly be staggering redress for the lives disrupted by the emergency it woefully failed to prepare for.
Tepco applied to the government in May to raise rates this month by an average of 10.28 percent, but the plan is still being reviewed.