December 17, 2014 / 9:02 AM / 3 years ago

Japan's Tepco says will not raise electricity prices in 2015

TOKYO, Dec 17 (Reuters) - Tokyo Electric Power said it will not raise electricity rates in 2015 after it forecast on Wednesday another year of profits for the year ending March, 2015.

Tokyo Electric Power, commonly known as Tepco, is the operator of the destroyed Fukushima Daiichi plant in northeastern Japan. The company said it will cut 837 billion yen ($7.1 billion) in costs this fiscal year.

The utility now expects to log a net profit of 521 billion yen this fiscal year. ($1 = 117.33 yen) (Reporting by Kentaro Hamada; Editing by Muralikumar Anantharaman)

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