On September 14th, the Asahi Shimbun reported "TEPCO considers a 3-year tariff increase". We reject the veracity of this statement.
Facing a financial burden due to the large increase in fuel costs resulting from the low operational availability of nuclear power plants, we have declared extraordinary losses in the FY2011 First Quarter Financial Results.
It is under such circumstances that we are forced to respond to our financial challenges.
In accordance with discussions with a third-party-panel that is investigating TEPCO's management and financial situation, we are working on ways to implement drastic cost-reduction measures of our operations to secure a sufficient amount of financial resources.
Regarding the recent reports that TEPCO's electricity cost was subject to overestimations during past tariff revisions, we have continuously reduced our electricity tariffs by projecting our costs in an appropriate manner.
© Tokyo Electric Power Company Holdings, Inc.
