Chubu Electric Power Co. and Tokyo Electric Power Co. (TEPCO) said recently that they are combining existing fuel businesses (upstream/procurement) and overseas power generation and infrastructure businesses into JERA Co. Inc. by July 2016 as part of a previous alliance agreement to integrate their energy-supply chains.
Through JERA, the companies plan to offer internationally competitive energy services with the goal of increading enterprise values through international operations.
Chubu said the joint venture offers a comprehensive means of managing upstream investments, procurement of fuel, power generation abroad and development of new domestic thermal energy plants.
Both companies also plan to shut down obsolete domestic thermal power plants.
