Japan Times reports that TEPCO has raised the rates for household consumers of electricity from September on by 8.46%, since shutting down nuclear power means firing more fossil fuel, which increases their costs.
Since TEPCO still has a monopoly for serving household costumers, they needed permission from the industry ministry. They originally applied for a 10.28 percent price hike and got only 8.46 percent passed.
However, in absolute terms, that price hike comes to only 347 yen for a household using the average of 290 kWh per month.
That’s less than three cans of coffee from a street vending machine. Most people in Japan won’t feel that either way.
And it is far from the amount of price signal that would be required to have people start saving more electricity because they want to keep their costs down.