The Ministry of Economy, Trade and Industry (METI), which examines the electricity rate increases of the seven major electric power companies, has instructed each company to reduce the amount of price increase and apply again, saying that the burden on each company has been lightened due to the decline in energy prices.
Regarding the "regulatory fee" for households with many subscribers, seven of the 10 major electric power companies, Hokkaido Electric Power, Tohoku Electric Power Company, Tokyo Electric Power Company, Hokuriku Electric Power Company, Chugoku Electric Power Company, Shikoku Electric Power Company, and Okinawa Electric Power Company, have applied to the government for a price increase of more than 7% to more than 28% due to soaring fuel costs.
Each company had applied for a price increase after April, but Prime Minister Kishida called for a rigorous and careful examination rather than a schedule, and consideration of measures to further curb rates.
In the future, the seven major electric power companies that had applied for price increases will reconsider the contents of their applications after receiving official instructions from the Ministry of Economy, Trade and Industry.