(Bloomberg) -- Tokyo Electric Power Co., forced to
shut the world's largest nuclear plant after an earthquake this
month, slashed its profit forecast because the utility will need
to burn costlier oil and gas to make up the shortfall.
Tokyo Electric predicted net income of 65 billion yen ($547
million) in the year ending March 31, compared with 310 billion
yen estimated in April, Asia's biggest utility said in a
statement to the stock exchange today. The forecast for pretax
profit was cut to 130 billion yen from 400 billion yen, and the
sales estimate raised to 5.45 trillion yen from 5.4 trillion yen.
Read more at Bloomberg Energy News
shut the world's largest nuclear plant after an earthquake this
month, slashed its profit forecast because the utility will need
to burn costlier oil and gas to make up the shortfall.
Tokyo Electric predicted net income of 65 billion yen ($547
million) in the year ending March 31, compared with 310 billion
yen estimated in April, Asia's biggest utility said in a
statement to the stock exchange today. The forecast for pretax
profit was cut to 130 billion yen from 400 billion yen, and the
sales estimate raised to 5.45 trillion yen from 5.4 trillion yen.
Read more at Bloomberg Energy News
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