• Kyodo

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Chubu Electric Power Co. is considering raising household electricity rates 5 to 8 percent next April to offset losses caused by the shutdown of its Hamaoka nuclear plant, sources said Saturday.

The utility, which serves Nagoya and other parts of central Japan, has been unable to bring the Hamaoka plant back online, which has forced it to rely on thermal power generation. The subsequent surge in fuel costs, exacerbated by the government’s campaign to weaken the yen under Prime Minister Shinzo Abe, has worsened its financial position.

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