Tokyo Electric Power Co.’s intention to raise household rates in July met with stiff opposition from representatives of consumers and small companies at a meeting of the government’s panel tasked with examining the appropriateness of the proposed hike.
Tepco President Toshio Nishizawa told the meeting Tuesday that raising electricity rates by an average of 10.28 percent is necessary to enable the utility to stay afloat amid rising fuel costs for thermal power generation to make up for the halt in nuclear power generation due to the Fukushima crisis.
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