Chubu Electric may get 100 B yen loan from JBIC

JBIC may extend a 100 billion yen to Chubu Electric Power Co. to help it procure fuel for thermal power generation.

Chubu Electric is facing additional annual costs of 250 billion yen for the procurement of liquefied natural gas due to electricity supply constraints caused by the suspension of the Hamaoka plant.

The company is dependent on loans from financial institutions as it is difficult to raise funds through corporate bond issuance amid the nuclear crisis at the Fukushima Daiichi power plant.

Given the circumstances, other financial institutions and insurance firms also plan to extend loans to the utility.

The company suspended its Hamaoka nuclear power plant in Shizuoka Prefecture in May at the request of Prime Minister Naoto Kan following the Fukushima Daiichi crisis.

The full story is available at Kyodo News.