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All major Japanese power utilities to raise rates for February

JIJI

The nation’s 10 major power utilities will raise their rates for February to reflect the higher prices of crude oil and liquefied natural gas for thermal power generation, Jiji Press learned Wednesday.

It will be the first time for all 10 major firms to raise their rates together since August.

The monthly rate for a standard household in the service area of Tokyo Electric Power Co. will rise by about ¥25 from January to slightly over ¥7,870, sources said.

The rate is expected to rise by about ¥30 at Okinawa Electric Power Co., and by around ¥20 at Kansai Electric Power Co., the sources said.

The increases are expected to be some ¥10-¥15 at Hokkaido Electric Power Co., Chugoku Electric Power Co. and Shikoku Electric Power Co., according to the sources.

They will vary from several yen to around ¥10 at Tohoku Electric Power Co., Chubu Electric Power Co., Hokuriku Electric Power Co. and Kyushu Electric Power Co., the sources said.

The sources also said three of the nation’s four major gas suppliers — Tokyo Gas Co., Osaka Gas Co. and Toho Gas Co. — will raise their February rates by about ¥10.

Electricity and gas rates are reviewed every month in line with changes in fuel prices. In the September-November period, the base period for setting February rates, the price of crude oil was up by nearly 2 percent from the three-month period to October, while the price of LNG rose slightly.