Japanese power utilities Tokyo Electric Power Company (TEPCO) and Chubu Electric Power have signed an agreement regarding the integration of their fossil fuel power plants.
As agreed in February 2015, the company plans to integrate these activities under the frame of their JERA joint venture (50% TEPCO, 50% Chubu) starting from 2019. The combined businesses of both companies will create a giant thermal power generation company, which will oversee 68 GW of capacity and account for as much as half of Japan's domestic power generation.
The aforementioned agreement is another integration step of the general plan for JERA, which will be in charge of upstream investment, procurement, trading and power generation. Created in 2015, JERA has gradually integrated TEPCO and Chubu's upstream and LNG activities and procurement business units (and fossil fuel power generation by 2019).
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