TEPCO eying tie-up with Chubu Electric Biz / Tech Oct. 7, 2014 - Updated 13:35 UTC+2 Executives at Tokyo Electric Power Company may turn to their counterparts at another energy firm to help rebuild their business. They want to join hands with the people at Chubu Electric Power Company to create a joint thermal power generation firm. They say the tie-up would allow them to procure fuel and rebuild thermal power plants more economically. TEPCO executives said they will aim to wrap up the deal by March of 2015. They said the utilities would each own half of the new firm. TEPCO and Chubu Electric consume half of Japans liquefied natural gas imports. They hope to cut import costs by gaining an advantage in price negotiations with countries in the Middle East and Asia, thereby allowing them to lower their rates. The alliance would be unprecedented in postwar Japan. The countrys power industry has traditionally been comprised of regional utilities.
Posted on: Sat, 11 Oct 2014 05:57:31 +0000
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