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Gov't officially approves TEPCO plan to hike household electricity bills from Sept 1

28 Comments

The government on Wednesday officially approved Tokyo Electric Power's plan to hike household electricity bills by 8.46% from Sept 1.

The hike means that average households will pay about 360 yen more per month.

The trade and industry ministry also said that TEPCO will receive 1 trillion yen in public funds to shore up its financial base on July 31, which will effectively put it under state control.

© Japan Today/AFP

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28 Comments
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Japan has been waiting for this. The consumers pay the price for the executives' decisions. Rates go up for less production, and more people suffer from heat exhaustion and higher prices for everything.

2 ( +7 / -5 )

I guess Japan's GDP number will only grow by price increases or higher bills.

-5 ( +1 / -6 )

TEPCO is the largest bond issuer in the country after the government. Making sure that those bond holders (banks, insurance companies) don't lose any money is the purpose of the rate hike. It simply has nothing to do with anything else.

3 ( +6 / -4 )

So, since the government has pretty much taken over, do we get a chance to look at their budget and books? I'd like to see how much these incompetent fools get paid.

And a hike? After they have admitted to overcharging customers and giving fat bonuses to those at fault left the company? Why no one has actually gone after these guys physically is beyond me.

0 ( +4 / -4 )

Dangerous lunatics that sock it to the taxpayers.

2 ( +4 / -2 )

Disgusting. I knew this was going to happen.

When Japan has another disaster that happens because of some corporations incompetence, I wonder how much we'll have to pay then? How much we'll have to pay them so they can pay incompetent staff bonuses for years on years?

Put all of the board of directors in jail for 30 years, and nationalize TEPCO.

0 ( +5 / -5 )

So, not only is TEPCO receiving 1 trillion yen in public money they are also increasing bills by.8%? Nice work guys, especially considering domestic electricity accounts for less than 20% of the total usage. Hit the little man! Fan bloody tastic!

1 ( +4 / -3 )

so is this the elected government that approved this or the bureaucrats? in any case its unforgivable.

0 ( +2 / -2 )

I wonder what is considered to be an 'average' household. A one room apartment in Tokyo I guess. My bills are certainly higher than the 4300 yen figure they are using for their calculations.

0 ( +1 / -1 )

The little people paying for a greedy company.

0 ( +2 / -2 )

Right, now that Tepco is effectively nationalized what I wanna see is their executive & management salaries come down from the stratosphere to the level ( still high enough ) of central govt. public servant pen pushers. ( i.e. more than the discussed 30% decrease ) This is what Edano talked about last year when the public money injection was first discussed. What are the chances of that happening ? Yeah...right.

4 ( +6 / -2 )

That's over 4000 yen a year.

Assuming the average worker makes 2000 yen an hour that means you have to work an extra 2 hours this year for TEPCO.

Thanks TEPCO.

-1 ( +2 / -3 )

NeverSubmitJul. 26, 2012 - 10:39AM JST

That's over 4000 yen a year.

Assuming the average worker makes 2000 yen an hour that means you have to work an extra 2 hours this year for TEPCO.

Thanks TEPCO.

You mean the anti-nuclear protestors. It's a common mistake.

-4 ( +9 / -13 )

horizon360Jul. 26, 2012 - 07:42AM JST

TEPCO is the largest bond issuer in the country after the government. Making sure that those bond holders (banks, insurance companies) don't lose any money is the purpose of the rate hike. It simply has nothing to do with anything else.

Even without counting Fukushima, TEPCO is losing money selling electricity at current prices, since the average cost of generation has gone up 12% or more. TEPCO's largest source of electricity is currently oil, which replaced nuclear generation, and oil is 50% more expensive than even the highest estimates for post 3/11 nuclear. The worst thing that can happen is that TEPCO collapses before a proper electrical grid reform can be done.

-4 ( +9 / -13 )

The last time a price hike in household electricity was approved was back in 1980. (32 years ago).

-1 ( +0 / -1 )

government on Wednesday officially approved Tokyo Electric Power’s plan to hike household electricity bills by 8.46% from Sept 1.

The "government approved" - did they ask the people?

CrazyJoe. The last time a price hike in household electricity was approved was back in 1980. (32 years ago).

Wrong! They "hiked it up" themselves by 10% ten years ago...

2 ( +2 / -0 )

Well, yeah, it's only fair that the common people should have to pay for this corporation's mistakes... Oh... wait a minute.

1 ( +1 / -0 )

6wingsJul. 26, 2012 - 12:00PM JST

Well, yeah, it's only fair that the common people should have to pay for this corporation's mistakes... Oh... wait a minute.

The common people should pay for activists mistakes. The imports of electrical production oil nearly doubled since 3/11, and that's not cheap. None of these hikes have anything to do with fukushima, only have to do with having nuclear shut down. If plants aren't put online though, expect another 10% hike soon.

-3 ( +9 / -12 )

The common people should pay for activists mistakes. The imports of electrical production oil nearly doubled since 3/11, and that's not cheap. None of these hikes have anything to do with fukushima, only have to do with having nuclear shut down. If plants aren't put online though, expect another 10% hike soon.

They aren't the ones who screwed up with nuclear.

5 ( +7 / -2 )

FightingVikingJul. 26, 2012 - 11:21AM JST

Wrong! They "hiked it up" themselves by 10% ten years ago...

Yet in the same time the economy grew 22% (assuming their 2% average that's been happening for a while, from ten years ago to now). The price of gas, oil, and coal all rose much more as well. If people don't want nuclear (the only one where fuel prices don't really increase), they need to suck it up and live with the consequences. Energy isn't free, you just need to chose how you'll pay for it.

-2 ( +9 / -11 )

Thomas AndersonJul. 26, 2012 - 12:42PM JST

They aren't the ones who screwed up with nuclear.

They could have easily said they didn't want nuclear before and taken a rate hike then. So in a sense, yes they screwed up with nuclear, they asked for nuclear to keep things cheap (or asked to keep things cheap and therefore got nuclear, doesn't matter which)

-5 ( +9 / -14 )

basroil, like it or not nuclear has screwed up big time, and you're still blaming somebody else for nuclear's problems.

they asked for nuclear to keep things cheap (or asked to keep things cheap and therefore got nuclear, doesn't matter which)

I don't think that anybody "asked" for nuclear, it was just forcibly implemented by the government.

3 ( +7 / -4 )

Thomas AndersonJul. 26, 2012 - 02:18PM JST

I don't think that anybody "asked" for nuclear, it was just forcibly implemented by the government.

They asked for cheap power. People should have known exactly what it meant to get cheaper power, it's not that hard to figure out. There's also the Kyoto protocol everyone wanted...

-3 ( +9 / -12 )

They asked for cheap power. People should have known exactly what it meant to get cheaper power.

So you mean the people should have predicted the meltdown, even though everyone told them it couldn't happen.

You know what, I think I agree with you, they should.

0 ( +4 / -4 )

Oh well, I'll just have to shut off my aircon from September. It'll still be hot though, so if I get heat stroke, can I sue TEPCO?

-1 ( +0 / -1 )

SerranoJul. 26, 2012 - 10:28PM JST

Oh well, I'll just have to shut off my aircon from September. It'll still be hot though, so if I get heat stroke, can I sue TEPCO?

Sue the government for not acting faster and restarting nuclear plants. Japan has just enough power to run comfortably at 2010 levels if you include nuclear, barely enough for now without.

-1 ( +8 / -9 )

"None of these hikes have anything to do with fukushima, only have to do with having nuclear shut down. If plants aren't put online though, expect another 10% hike soon." Sorry- but they have absolutely " everything to do with Fukushima. Iif TEPCO management and the rest of the nuclear village useless corrupt oyajis did their job properly when they were told to improve their safety measures on numerous occasions over a number of years we wouldn't be here today. The investigation panels conclusions are crystal clear - "Fukushima is a man made disaster" no matter how pro nuke proponents try to spin it. Simple as that.

2 ( +3 / -1 )

marcelito, so you agree that the reason for the hikes are due to NOT USING nuclear rather than paying for cleanup. Just say that in clearer words next time.

0 ( +8 / -8 )

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