Tokyo - Tokyo Electric Power Co (TEPCO) on Monday said it expected a net loss of 280 billion yen (2.6 billion dollars) due to surging oil prices and costs of procurement from other power suppliers.

The company's Kashiwazaki-Kariwa nuclear power station, which is the world's largest by output capacity, has been suspended since an earthquake hit central Niigata province on July 16 last year.

The company said its net loss would be a record 76.24 billion yen for the three months through June 30, compared to a profit of 31.07 billion yen during the same period a year before, the company said.

But TEPCO's revenue was expected to rise 3.4 per cent to 6.05 trillion yen from an initial projection of 5.85 trillion yen.

The electric power company was expected to raise electric fees starting January to cover costs of surging oil prices. (dpa)