The war in Ukraine is making a bad situation worse for Japanese power providers struggling with the energy crisis, forcing more companies to quit the business.
In the last month, at least four companies halted power retail operations, as a surge in wholesale electricity prices makes it challenging to procure stable supply and turn a profit. At least seven temporarily halted taking on new customers for some plans.
For the fiscal year ending Thursday, 14 Japanese power companies have filed for bankruptcy, according to Teikoku Databank. That’s the most since data going back to 2014.