October Electricity Rates Hit Record High at All 10 Major Power Utilities as Government Subsidies End

Jiji Press··JP·Read original
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Summary · why it matters

Japan's 10 major power utilities announced on the 29th their electricity rates for October usage (billed in November), and with the end of government subsidies all companies raised rates from the previous month, pushing the monthly bill for a standard household to a record high. With energy prices remaining elevated amid turmoil in the Middle East, the subsidy of 3.50 yen per kilowatt-hour, which had lowered monthly bills by roughly 800 to 900 yen, has been scrapped, and the increase for a standard household widened to between 835 and 1,578 yen. Because the applicable period partly includes November, the rate hike from the November 1 revision of transmission fees, or the charge for using power lines, is also reflected. The largest increase is 1,578 yen at Okinawa Electric Power, which also has the highest monthly bill at 10,752 yen. Tokyo Electric Power will rise by 1,286 yen to 9,561 yen.

Impact on assets 2

Energy Transition & Power Demand▼ · 2 stocks
Okinawa Electric Power Co., Inc.
9511
▼ NegativeRegulationrelevance

End of government subsidies and the November transmission-fee revision push Okinawa Electric's October rates to the largest increase and highest monthly bill.

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