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Tepco, Chubu Electric say may merge fossil-fuel plants
February 9, 2015 / 7:26 AM / 3 years ago

Tepco, Chubu Electric say may merge fossil-fuel plants

TOKYO, Feb 9 (Reuters) - Tokyo Electric Power Co and Chubu Electric Power Co said on Monday they may combine their fossil-fuel plants under a joint venture they are setting up from April to handle their fuel procurement and related businesses.

The announcement means the companies, the biggest and third biggest of Japan’s 10 regional electricity utilities, are deepening the planned joint venture to cut fuel procurement and other costs in the wake of the Fukushima nuclear disaster.

$1 = 108.64 Japanese yen Reporting by Osamu Tsukimori; Editing by Aaron Sheldrick and Biju Dwarakanath

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