TEPCO turns a $4 billion USD Profit this year

There was a recent report that

Tokyo Electric has announced annual profits of $4.3 billion USD, compared to a net loss of $6.6 billion USD in the previous year.  The utility, which recently found itself on the edge of a financial cliff, benefited not only by hiking its electricity rates, but also from an enormous bailout from the Japanese government.   Japan experienced a warm winter last year, which lead to a decline in the amount of electricity sold, but those losses were offset by the rate hike.    The Japanese government also gave the utility some $175 billion USD in bailout funds.

Imagine what the impact might be if the government instead provided $175 billion USD to promote conservation, wind, and solar power.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s