Japan Props Up More Power Utilities to Avoid Rate Increases

Japan moved to prop up another two unprofitable power companies after they posted losses of 159 billion yen ($1.6 billion), underscoring how the idling of atomic reactors is forcing losses on most of the nation’s utilities.

Kyushu Electric Power Co. and Hokkaido Electric Power Co. will receive a combined 150 billion yen from a state-owned Japanese bank, joining Tokyo Electric Power Co., operator of the wrecked Fukushima plant, on the list of utilities to secure government aid.