Japan's TEPCO cuts price hike request to 17.6% from 29.3%

TOKYO, March 30 (Reuters) - Tokyo Electric Power Company Holdings (TEPCO) has revised its request to raise utility prices for households to an increase of 17.6%, down from 29.3% as a result of a cost recalculation requested by the government.

Japan's government is taking time to approve the requests from utilities such as TEPCO to ease the historically high inflation burden on consumers and utilities. TEPCO asked for an increase of 29.3% at the end of January but submitted the smaller 17.6% increase on Thursday to the ministry of economy, trade and industry, it added, as the yen has risen slightly while the prices of oil, liquefied natural gas (LNG) and wholesale electricity have eased.

TEPCO, which according to Nikkei was seeking 400 billion yen in loans from banks to deal with high import costs, initially wanted to raise regulated power prices for households from June 1.

It has not changed the timing of its requested price hike, a spokesperson at TEPCO Energy Partner, the group's retail unit, said on Thursday.

($1 = 132.47 yen) (Reporting by Katya Golubkova and Yuka Obayashi; editing by Jason Neely)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

Japan's TEPCO cuts price hike request to 17.6% from 29.3%

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

Solid price gains for gold, silver after busy news weekend

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Silver prices breach $32/oz as bullish technicals and fundamentals suggest potential breakout

off-the-wire

Japan&apos;s TEPCO cuts price hike request to 17.6% from 29.3%

By Reuters

Reuters

Reuters

Japan's TEPCO cuts price hike request to 17.6% from 29.3%