Kyushu Electric Returns to Profit With Help of Nuclear
- Annual net income totals 73.5 billion yen vs loss a year ago
- Japanese utilities also benefitting from lower fuel costs
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Kyushu Electric Power Co., the only Japanese utility with a nuclear power plant currently operating, returned to profit last fiscal year, underscoring the financial benefits from atomic generation to utilities facing challenges ranging from heightened competition to a slump in energy consumption.
Net income was 73.5 billion yen ($678 million) for the 12 months ended March 31, compared with a net loss of 114.7 billion yen a year ago, the Fukuoka-based company said in a statement Thursday. By operating the Sendai No. 1 and No. 2 nuclear reactors in southern Japan for about half the fiscal year, Kyushu Electric’s profit was boosted 73 billion yen, the utility said.