TEPCO to raise household electricity rates 8.46% from Sept.

TOKYO, Japan - Tokyo Electric Power Co. President Naomi Hirose (front) speaks at a press conference at the company's headquarters in Tokyo on July 25, 2012. TEPCO won government approval the same day to raise household electricity rates by an average 8.46 percent from Sept. 1, lower than the initially planned 10.28 percent. The utility said the rate hike is needed to keep it solvent despite paying massive compensation for the Fukushima Daiichi nuclear power plant disaster.