March 28, 2017 / 6:46 AM / 3 years ago

Japan's Tepco, Chubu to merge fossil fuel power businesses

TOKYO, March 28 (Reuters) - Tokyo Electric Power Company Holdings (Tepco) and Chubu Electric Power Co said on Tuesday they had signed an agreement to integrate their fossil fuel power plants under their JERA Co joint venture.

The biggest and third-biggest of Japan’s regional power utilities aim to combine the businesses in April-September 2019, overseeing nearly half the country’s domestic power generation capacity.

The two firms in 2015 created JERA, which now handles all the parents’ 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.

$1 = 110.6700 yen Reporting by Osamu Tsukimori

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below