Tepco’s Quarterly Profit Triples as Fuel Prices Plunge
This article is for subscribers only.
Tokyo Electric Power Co., operator of the wrecked Fukushima Dai-Ichi nuclear plant, said first-quarter operating profit tripled as a drop in fuel prices helped cut costs.
Tepco, as Japan’s biggest utility is known, posted an operating profit of 228.3 billion yen ($1.85 billion) for the three months ended June 30, compared with 70.7 billion yen a year ago, the company said in a statement Wednesday.