Hokkaido Electric posted a loss of 22.2 billion yen from 7 billion yen profit a year prior, its first loss in nearly a decade, while Shikoku Electric reported a loss of 23 billion yen versus the previous year's loss of 6.3 billion yen.
Hokuriku Electric earlier said revenue would take a hit of about 1.5 billion yen a month without the requested rate hikes. Global energy prices have eased from peaks touched in the middle of last year after Russia's invasion of Ukraine exacerbated a post-pandemic energy crisis.
Still, input costs are high and utilities also need to align with the government's 2050 zero-emissions goal.
Pressure only increased this month after the Group of Seven rich nations - chaired by Japan this year - reaffirmed its goal to achieve a fully or predominantly decarbonised power sector by 2035 and pushed for major new renewable energy goals. ($1 = 133.8100 yen) (Reporting by Katya Golubkova and Yuka Obayashi; Editing by Christopher Cushing)
