TOKYO -- Tokyo Electric Power Co. said it will cut capital spending in the face of dwindling demand for electricity and increasing competition as part of a fiscal 2001 management plan.

Japan's biggest electric-power supplier said it will cut annual capital spending to about 900 billion yen ($7.36 billion) or less over the three years starting with fiscal 2001, which starts on Sunday. The company's fiscal 2000 management plan had...