Japan’s Tokyo Electric Power Company Holdings (Tepco) and Chubu Electric Power are to merge their fossil fuel power businesses.

On Tuesday they signed an agreement to integrate their fossil fuel power plants under their JERA Co joint venture, according to Reuters.
JERA
The biggest and 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 and account for nearly half the country’s domestic power generation.

The agreement is the last of a three-step plan for JERA, which will oversee a global resource chain from upstream investment, procurement and trading to power generation.

The two firms in 2015 created JERA, which now handles all of Tepco’s and Chubu’s upstream energy and fuel procurement business and is the world’s biggest liquefied natural gas (LNG) buyer with annual purchase of around 40 million tonnes.