Giant Japanese merger to oversee 68 GW of fossil power

Japanese utilities Tepco and Chubu are set to make a significant cost cut through merging fossil businesses.

The companies said the move, signed on Thursday, would mean cutting costs by $910m a year within five years after combining their fossil fuel power plants under their JERA Co joint venture.
Tepco logo
The biggest and the third-biggest of Japan’s regional power utilities aim to combine the businesses in April-September 2019 to form a company that will oversee 68 GW of capacity in the country and account for nearly half of domestic power generation.

Tepco hopes the integration will help improve the profitability of the thermal power operations to facilitate efforts to secure funds to clean up the March 2011 meltdowns at Tepco’s Fukushima No. 1 power plant and pay compensation to those affected.

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