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.
