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COPYRIGHT 2004 Asia Pulse Pty Ltd
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A PROFILE OF JAPAN'S ELECTRIC POWER INDUSTRY
PREPARED BY ASIA PULSE ANALYSTS (UPDATED APRIL 2004)
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OVERVIEW:
In the first half of fiscal 2003 ended Sept. 30, low summer temperatures and rising costs weighed on earnings of 10 major electric power companies. All but one logged pretax profits drop on a consolidated basis, and profits declined at all 10 on a parent-only basis.
The record cool summer lowered the amount of electricity sold at six of the firms, causing total sales at all 10 to drop 1.2% on the year. As a result, sales both on a parent-only and consolidated basis fell at all of the 10 firms, except for Hokkaido Electric Power Co.
Their operation rates dropped about 30 percentage points to 53.8%, hurt by the prolonged inspections at nuclear power stations, resulting in an increased use of thermal power plants and rising fuel costs.
Only one company, Kansai Electric Power Co., posted a gain in consolidated pretax profit, thanks largely to improved revenue at its information and communications subsidiary.
Tokyo Electric Power Co. (Tepco) saw group pretax profit fall 45.2% on the year to...
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