Tokyo, Mar 26, 2008 (Jiji Press) - Kansai Electric Power Co. <9503> revised up its estimate for its total electricity supply over the next 10 years under a fiscal 2008 business plan announced Wednesday.
The major Japanese power supplier expects robust power demand from large-lot users such as a new liquid crystal display plant that Sharp Corp. <6753> is scheduled to open in Sakai, Osaka Prefecture, western Japan.
For the coming fiscal year starting next month, Kansai Electric plans to increase capital spending on power distribution facilities by 23 billion yen from the previous year. It will also undertake maintenance of old nuclear power plants and buy a liquefied natural gas carrier.
As a result, overall capital spending for the year will come to 610 billion yen, the highest level in nine years, the company said.
The company aims to raise the share of nuclear power in its total electricity generation to 50 pct in fiscal 2017 from an estimated 41 pct for fiscal 2007.
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