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TEPCO says 87% of corporate clients yet to renew contracts

23 Comments

Tokyo Electric Power Co (TEPCO) says that 87% of its corporate clients have yet to renew their contracts which will include a 17% hike in electricity rates.

TEPCO also said that it expects to take in 100 billion yen less this fiscal year than originally estimated following the rate hike misstep, TBS reported.

The utility came under fire this month after it admitted that it had been vague on conditions for hiking electricity bills for corporate users by 17%, starting April 1. In January, TEPCO said the hike will be applied to companies for 50 kilowatts or more, and is expected to bring an extra 400 billion yen annually to its coffers to cover costs of switching to other forms of power.

However, the utility neglected to explain that corporate users won’t have to pay the extra rate until their current contract expires.

Meanwhile, TEPCO officials said they have applied for an extra capital injection of 1 trillion yen from the government-backed Nuclear Damage Compensation Facilitation Corporation to strengthen the company's financial standing and run thermal power plants, TBS reported. TEPCO said it also needs an additional 800 billion yen by March 31 for compensation payments to people and businesses over damages from the Fukushima nuclear disaster last year.

Industry Minister Yukio Edano has asked TEPCO to compile a business plan by the end of March, but the utility looks unlikely to meet that deadline.

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23 Comments
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Memo to Mr. Edano: Stop asking for anything. Tell TEPCO that until all aspects of the crisis have been resolved that the TEPCO will be under government control. The government will set the rates, directly give compensation to the numerous victims and give TEPCO just enough money to survive (i.e. forget the luxurious bonuses and salaries). Sell off all assets, fire all "advisors" and invite an objective body (the IAEA?) to monitor repair and/shut-downs. If TEPCO doesn't like it, fire them and let them take a crack at finding new employment in this economy in the shadow of a disaster they created.

16 ( +16 / -0 )

Where else are they suppose to get their power from?

Industry Minister Yukio Edano has asked TEPCO to compile a business plan by the end of March, but the utility looks unlikely to meet that deadline.

When are they ever able to do anything?

1 ( +1 / -0 )

Has the board taken a 17% pay cut or returned 17% of their shares and savings?

-2 ( +6 / -8 )

no other suppliers?

0 ( +0 / -0 )

If you have your old electricity bills compare the fuel surcharge adjustment from last year and this year. 燃料調整 It used to be about -2 yen now it is 0.4 yen. This is charged regardless of when you draw power. That means Nighttime power rates have risen about 33% for individual households while daytime rates have risen about 10%. These users, while getting shafted, have no choice of another power provider.

0 ( +0 / -0 )

My january bill was 19.000 yen, i called then and ask why, the send someone to check the meter, but they they found the meter to be ok, i have never pay more than 12.000 yen in the two years living in this apartment, then February bill go down to 15.000 this month the bill is for 13.000 yen, i told then if they want to get out of the hole this way stealing from people, to do it to the Japanese not the foreigner because we always ask question, we dont just get the bills and pay. The only thing they said was gomenasai!.

Guys check your bills.

5 ( +5 / -0 )

@The_True, good job. I wanted to ask but got sidetracked. Definitely the electricity bill has gone up like crazy these past few months and I faced similar situations where I paid more for using less electricity. Something has to be done to stop this extortion from Tepco.

4 ( +4 / -0 )

Can they raise the rates without letting people know??? I would be demanding my money back is this is being done illegally.

-6 ( +4 / -10 )

"TEPCO also said that it expects to take in 100 billion yen less this fiscal year than originally estimated following the rate hike misstep, TBS reported."

Memo from TEPCO to Noda. "Don't fall into the same trap mate. Give up this tax hike before it bites you like our rate hike did."

0 ( +0 / -0 )

TEPCO also said that it expects to take in 100 billion yen less this fiscal year than originally estimated following the rate hike misstep

Gee, my heart just bleeds for you TEPCO. Damn, that's just too bad.

2 ( +2 / -0 )

Another TEPCO misstep.... Why is it always happening to them? Guess it is true, monopolies don't have to work at providing good service.

Oh, TEPCO is also closed as an attraction at Kidzania, which is the only sensible thing I have heard about TEPCO since the crisis.

0 ( +0 / -0 )

I lowered my mansion down to 30 kilo. Why is my bill higher?

0 ( +0 / -0 )

So a government fund will be used to prop up TEPCO but not pay the victims of this disaster.

1 ( +1 / -0 )

WTF

applied for an extra capital injection of 1 trillion yen from the government-backed Nuclear Damage Compensation Facilitation Corporation

Government backed = the Government = the taxpayer, Unfrickin' believable. I think I'll just apply for a one billion yen "cash injection" from the Ostracized Alien Re-invigoration Facilitation Group down at the city office tomorrow. I want it in by Friday.

0 ( +0 / -0 )

My january bill was 19.000 yen, i called then and ask why, the send someone to check the meter, but they they found the meter to be ok, i have never pay more than 12.000 yen in the two years living in this apartment, then February bill go down to 15.000 this month the bill is for 13.000 yen,

Definitely the electricity bill has gone up like crazy these past few months and I faced similar situations where I paid more for using less electricity. Something has to be done to stop this extortion from Tepco.

Can they raise the rates without letting people know???

I don’t know about the comments above because TEPCO has not raised any rate yet. (please correct me if I’m wrong) Its rate hikes for factories, office buildings and other large-lot clients on a case-by-case basis after carrying out its plan to raise the rates by 17 percent on average from April. TEPCO also wants to raise household electricity bills from summer/autumn this year, but a household rate hike needs government (METI) approval. Edano has not approved yet.

http://www.yomiuri.co.jp/dy/national/T120321005009.htm

0 ( +0 / -0 )

@Blair Herron, that's why i mean, i ask then what is the reason for my bill to be that high for that month, because the previews month was 7.000 yen less, a TEPCO guy came to my house and suck all the air in the room thinking then told me that is was strange since i have never used that much Electricity for the past two years, but they still said i have to pay because the meter said so, so guess what is the only Electric Company? so they know that, you dont have no other choice, but you know in Japan the GoJ is useless again big corporation in any other civilize country, some Gov. agency will step in and trying to find what is the problem, but not here.

hey if they do that to every client in tokyo, that is a lot of money they'll extort dont you think?

0 ( +0 / -0 )

@The_True

You should compare December, January, February meter. If there was no dromatical changes in the meter, but the bill rose dramatically, you should ask TEPCO for explanation. If you tell them your お客様番号(customer number), they will check your previous meter. The only cost that would be changed by TEPCO is 燃料費調整 and 太陽光促進付加金(written on your monthly bill); that changes depend on the cost of oil, coal, and gas. If your monthly bill was around 12,000 yen, the changes should be like plus/minus 0~500yen. 太陽光促進付加金 also changes monthly, but the changes are like around 5 yen. 3段料金could change dramatically if your meter is more than 300kwh since the 3rd one is the most expensive rate 24.13yen/kwh.

http://www.tepco.co.jp/e-rates/individual/basic/charge/charge01-j.html

If you check the meter yourself, you can estimate the cost by electricity bill simulation.

http://www.tepco.co.jp/life/custom/ratesimu/index-j.html

0 ( +0 / -0 )

@True_blue My TEPCO bill for 200 kWh was 5131yen. 60 yen for fuel charge, 6 yen for the solar charge.(Yokohama residential)

0 ( +0 / -0 )

TEPCO says 87% of corporate clients yet to renew contracts

No **** Sherlock!

0 ( +0 / -0 )

applied for an extra capital injection of 1 trillion yen from the government.............TEPCO said it also needs an additional 800 billion yen by March 31

Pretty soon we're gonna be talking some real money here folks.

0 ( +0 / -0 )

My bill was very low in the past three years - how? Replaced almost all lights with LEDs (pretty expensive step, but it works), and my house is a "Eco House", with triple glazing and fiberglass wool wall insulation.

I also run a 5.75 kWh solar panel system on my roof, that basically covers all my daytime electricity consumption. I sell the excess production back to Tepco, covering my solar loan and then some 1-2000 yen/month extra (so thank you to all the people paying their solar surcharge).

This year's spring is as cold as last year's winter, and this definitely will increase heating costs for many people.

Tepco can't use it's nuclear facilities, and they are by an order of magnitude cheaper to operate (when they don't explode) than gas/oil powered plants... SO people complaining about nuclear should start paying through their noses for the gas and oil used for their electricity... It's only that simple... Or go green, take a 2-4 million yen solar loan (with a 3.5% rate) and make yourself a solar plant (those who live in a house)...

Not nuclear but the same cost as before is simply not going to happen, people. Prices are only going to increase from now one...

1 ( +1 / -0 )

Interest in shale gas is on the rise in Japan. LNG projects based on shale gas have been proposed to partially meet Japan’s LNG needs.Import of shale gas from the U.S. could lower the electricity bill in Japan if we could buy it in low price like Korea does under FTA agreement with the U.S.

http://nippon.com/en/in-depth/a00303/

0 ( +0 / -0 )

The_True

My january bill was 19.000 yen,

and I paid 5.320 yen for 4 days use...

0 ( +0 / -0 )

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