TEPCO's Chief Announces Plans for Global Expansion, Renewable Energy
26 Février 2018 - 7:00AM
JCN Newswire (English)
Nearing his first anniversary in office, TEPCO President Tomoaki
Kobayakawa spoke at a press conference held at the Federation of
Electric Power Companies (FEPC) of Japan, in which he set out a
bold vision for global growth and investment in renewables while
also pledging to continue providing strong support for the
restoration of Fukushima.
Kobayakawa, who at 53 is TEPCO's youngest leader ever, is charting
a dramatically new path for the company as it navigates the
challenges posed by deregulation of Japan's energy markets, the
country's declining population, and the need to continue cleanup
work at Fukushima. The company, he said, will continue its
transformation from a local utility to an innovative global energy
and technology company, partnering with other leaders around the
world.
"Our main mission is guaranteeing the delivery of a stable supply
of low-cost electricity customers. Within that mission, nuclear
power is not everything. Thermal power, the procurement of
renewable energy, and hydropower all play a part."
Watch the video https://www.youtube.com/watch?v=C7VRseTBKeU
Commitment to Fukushima
The focus on the future will not come at the expense of TEPCO's
obligations to its past, Kobayakawa said. Noting the steady
improvement of the situation both inside the Fukushima Daiichi
facility and in the surrounding towns, he affirmed the corporate
mission to rebuild communities and restore the trust of the
residents, including efforts to support the sale of Fukushima
produce.
Increase corporate value, earnings
To meet its obligations at Fukushima and return the company to
profitability, Kobayakawa said TEPCO aims to grow revenue by 500
billion yen annually, and generate a total of 450 billion yen in
profit over the next decade.
This will be accomplished through streamlining businesses and cost
reduction, reorganization and integration of nuclear power and
distribution, as well as forming alliances with partners.
Expanding in a shrinking market
To meet these ambitious goals, Kobayakawa said, TEPCO must look
beyond its traditional service area in the Kanto region around
Tokyo. Japan's electricity market is shrinking due to energy
conservation and a rapidly decreasing population. TEPCO will create
businesses in new areas, such as its JERA joint venture with Chubu
Electric, which will create a value chain from fuel upstream to
thermal generation and bundling the sale of electricity and natural
gas.
Renewable energy domestically and globally
With TEPCO's fuel and thermal power generation business as an
established revenue stream, the company has high hopes for the
promise of renewable energy, which it expects to become a
comparable pillar in the future based on global investment
projections over the next decade. Kobayakawa commented that while
there are challenges to overcome in connecting renewables to the
distribution network, he is confident that the company's
proprietary know-how will find various solutions.
To formulate a detailed plan during the coming fiscal year, TEPCO's
holding company will pull together expertise from its various
teams, including engineering, distribution, and international
project consultation to form the Mirai (Future) Management
Committee.
"Renewables are an essential component of our future. We believe we
can scale up our renewables business to create a new source of
revenue comparable to JERA."
About TEPCO
Tokyo Electric Power Company Holdings, Inc. (TEPCO) is Japan's
largest power company group, holding three independent business
entities: TEPCO Fuel & Power, Inc., TEPCO Power Grid, Inc., and
TEPCO Energy Partner, Inc. As a group, it generates, distributes,
and sells electricity and other types of energy principally to the
Kanto metropolitan area, which includes Japan's two most populous
cities, Tokyo and Yokohama. Its 42,060 employees are committed to
providing safe, reliable power as well as fulfilling its
responsibilities to the communities of Fukushima. (As of April 1,
2017)
TEPCO Website: http://www.tepco.co.jp/en/index-e.html
TEPCO Facebook page: https://www.facebook.com/OfficialTEPCOen
TEPCO Twitter page: https://twitter.com/TEPCO_English
Source: TEPCO
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