2 biggest power firms see record losses on crude oil surge

2 biggest power firms see record losses on crude oil surge

TOKYO, Japan - Tokyo Electric Power Co. President Masataka Shimizu speaks at a news conference in Tokyo on July 28 as the company and Kansai Electric Power Co. -- Japan's two biggest power utilities -- anticipate record net losses for fiscal 2008 on a consolidated basis due to the recent surge in crude oil costs. Tokyo Electric said electricity charges for a standard household are likely to rise by 800 yen per month to around 7,600 yen from next January.

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  • ILEA001128829
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  • Kyodo / Kyodo News Images
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  • 2008 Kyodo News
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