Japanese power group Tokyo Electric Power Company (TEPCO) has announced that it would restructure its activities as of 1 April 2016. The company will be structured under a holding company, Tokyo Electric Power Company Holdings, which will retain its nuclear-related operations (nuclear plant operations, decommissioning, revitalisation and compensation); thermal power generation and fuel supply will be transferred to a new subsidiary, Tepco Fuel and Power Incorporated, while its power transmission and distribution business will become Tepco Power Grid Incorporated. Electricity retail operations will be renamed Tepco Energy Partner Incorporated. The company is legally required to separate its electricity transmission and distribution activities from its retail activities on 1 April 2016, as planned in the liberalisation process of the Japanese electricity sector.
TEPCO had already reorganised its activities in 2014, with the creation of two main businesses: power generation on the one hand and activities related to the decommissioning of the Fukushima Daiichi nuclear plant on the other hand. In May 2012, the Japanese government approved the injection of Yen 1,000bn (US$8bn) in return for a 51% stake in the company.
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