Tepco WonÂ’t Increase Electricity 15 Per cent
TOKYO - - Tokyo Electric Power Co. wonÂ’t go ahead with plans to boost electricity prices by as much as 15 percent after government and public criticism, Kyodo News reported, citing unidentified people familiar with the matter.
The utility known as Tepco already informed creditors about the reversal of its plans, Kyodo said, citing the unidentified people. Tepco may propose a smaller price increase to cover expected higher costs, Kyodo said.
The company had planned to boost prices to help cover costs associated with reactor meltdowns at its Fukushima Dai-Ichi nuclear plant, Kyodo said.
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Restrict price charged for gas and electricity - British MPs
LONDON - MPs are calling for a cap on the price of gas and electricity amid fears consumers are being ripped off.
The Business, Energy and Industrial Strategy (BEIS) Select Committee says the Big Six energy companies have been overcharging for years.
MPs on the committee backed plans for a temporary absolute cap to fix what they called a "broken" energy market.
Labour's Rachel Reeves, who chairs the committee, said: "The energy market is broken. Energy is an essential good and yet millions of customers are ripped off for staying loyal to their energy provider.
"An energy price cap is now necessary and the…
