Tepco says to brief on price hike for businesses

TOKYO: Tokyo Electric Power Co said on Tuesday that its president, Toshio Nishizawa, will hold a news conference at 3 p.m. (0600 GMT) on price hikes for corporate users.

The utility, known as Tepco, will raise corporate customers' electricity rates in April as it struggles with hefty thermal fuel costs after the Fukushima nuclear crisis curbed its nuclear power output, an industry source said on Tuesday.

Japan's largest power utility said last month it would inform corporate customers in January about the specifics of rate increases, the first in over 30 years.