Kansai's annual gathering of major corporate leaders opened Thursday in Kyoto with vows to accelerate economic recovery efforts, even as the chairman of the Kansai Economic Federation warned that spring electricity price hikes would exceed 10 percent.
But Shosuke Mori, who also serves as head of Kansai Electric Power Co. (Kepco), said prices could actually be lowered, thus reducing economic damage to the region — if at least some of Kepco's 11 nuclear reactors, all currently idled, are restarted soon. Kepco plans to raise power rates by 10.23 percent for households and 13.93 percent for large businesses on April 1.
"These rate hikes are a continuation of rate hikes enacted in 2013, and will create an additional burden. In the event the reactors are restarted quickly, we want to discuss reducing electricity rates," Mori said.