Tepco to raise power charges up to 15% for three years

Tokyo Electric Power Co. plans to raise electricity charges 10 to 15 percent for three years starting next April in an attempt to turn around its business, which has been rocked by the Fukushima nuclear crisis, sources said Wednesday.

The firm also intends to cut charges some 10 percent from the fourth year if it can eliminate an extra fee on fossil fuel power generation by resuming the reactors at its Kashiwazaki-Kariwa nuclear power plant in Niigata Prefecture, the sources said.

Tepco has informally explained the plan to a government committee that has been assessing the utility's assets and costs in a bid to find financial resources for damages payments over the nuclear disaster.

The utility will have to pay massive damages to people and entities affected by the nuclear accident.

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