Since the 2011 tsunami, Japan shuttered nearly all its nuclear plants—and TEPCO has been heavily reliant on crude and fuel oil to close the gap ever since. Currently, officials seek oil purchase reduction up to 30%, according to company statements.
If approved, the plan would have Japan’s largest utility generating or buying 54% more electricity from coal-fired plants. Last month, TEPCO President Naomi Hirose said company officials will do “whatever it takes” to return profitability without raising electricity rates. In 2012, TEPCO operated at $3.3 billion loss—following a 13% increase from rising fuel prices, with needs for greater volume.
