By Megumi Yamanaka
Nov. 17 (Bloomberg) -- Tokyo Electric Power Co., Asia's biggest utility, received less liquefied natural gas and heavy fuel in October on expectations that the slowing economy will further reduce Japan's power demand.
Tokyo Electric received 11 percent less LNG last month and 32 percent less heavy fuel, it said on its Web site. The utility burned less of all types of fuel especially coal, which was down by 68 percent from a year ago.
Japan's economy, the world's second largest, contracted more than economists expected in the third quarter, confirming it entered its first recession since 2001 as companies cut back spending, the Cabinet Office said today. The country's electric generation fell for a third consecutive month in October.
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October 2008 October 2007 CONSUMPTION Fuel oil 416,000 555,000 Crude oil 163,000 202,000 LNG 1,529,000 1,661,000 Coal 105,000 329,000
INTAKES Fuel oil 357,000 526,000 Crude oil 239,000 130,000 LNG 1,651,000 1,863,000 Coal 145,000 159,000
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Source: Tokyo Electric Power Co.
To contact the reporter on this story: Megumi Yamanaka in Tokyo at myamanaka@bloomberg.net.
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