Tokyo Electric To Increase Oil, LNG, Coal Purchases In FY07

Tokyo Electric To Increase Oil, LNG, Coal Purchases In FY07

Tokyo Electric Power Co. (9501.TO) will purchase more oil, liquefied natural gas and coal this fiscal year ending March 2008 due to falls in its nuclear power plant operation rates, company president Tsunehisa Katsumata said Friday.

The company plans to buy 17.5 million metric tons of LNG this fiscal year, up 4.2% on year. Of this, it will buy 500,000 tons in the spot market, he said.

Tokyo Electric will also buy 5.40 million kiloliters of oil and 3.4 million tons of coal, up 35% and 6.3% on year respectively.

The 5.40 million kiloliters of oil includes fuel oil and heavy crude oil, Katsumata said, without elaborating further.

The company expects average operation rates at its nuclear power plants to be 72% or lower this fiscal year, compared with 74.2% in the previous year, mainly due to longer time for repair work, he said, without elaborating.

Information from: www.nasdaq.com

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