The Ministry of Economy, Trade and Industry (METI) revealed that six of the seven major electric power companies had lowered the amount of price increases from their initial applications in light of the recent decline in energy prices.

Seven out of 10 major electric power companies have applied to the government for a price increase of more than 7% to more than 28% regarding the "regulated fee" for households, but the Ministry of Economy, Trade and Industry (METI) has instructed them to review the calculation of fuel costs and apply again, saying that the burden on each company has been lightened due to the decline in energy prices.

According to the Ministry of Economy, Trade and Industry, as a result of recalculation based on fuel costs for the last three months from November last year to January, six of the seven companies lowered the price increase from the initial application.

The average price increase submitted by the six companies was as follows:

Okinawa Electric Power fell 45.11 points to 1.3%, Chugoku
Electric Power Co. 7.6 points to 6.11%, and
Shikoku Electric Power Co. 7.17 points to 6.7%.

On the other hand, Hokuriku Electric Power Co. raised its price by 7.25 percentage points to 2.7%, citing a decrease in revenue from electricity sold to other companies.

The Ministry of Economy, Trade and Industry (METI) is discussing this content at a council meeting held on April 25, and will discuss with the Consumer Affairs Agency to decide whether to approve the price increase.