Japanese utilities with nuke reactors incur losses

Net losses for April-September.

Eight out of Japan's 10 regional utilities have to face this due to surging fuel costs amid the continued shutdowns of their nuclear power plants.

Their combined net loss amounted to ¥670 billion, flagging performances that could prompt many of them to hike power rates.

Tepco did so in September by an average of 8.46 percent.

The half-year net loss reached record highs at Kansai Electric Power Co., Kyushu Electric Power Co. and Hokkaido Electric Power Co., according to the reports. As the three utilities depend relatively highly on nuclear power, they were affected by the surge in alternative fuel costs for thermal power generation. Two of Kepco's reactors are the only ones out of the nation's 50 commercial units now operating.

The government is expected to demand further cost reductions from the utilities once they ask for permission to hike rates, which would deal a severe blow to households and businesses amid the protracted economic downturn, its officials said.

Shikoku Electric Power Co. President Akira Chiba said his group wanted to decide soon whether to raise power bills.

Kepco and Kyushu Electric have already announced they plan to hike rates.

Okinawa Electric Power Co., which does not have any reactors, and Hokuriku Electric Power Co., which does, did not incur a half-year loss.

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