Tokyo Electric Power is announcing today that it will establish three new in-house companies on April 1, 2015 ahead of the introduction of a holding company system from April 2016.
The new companies, together with the Fukushima Daiichi Decontamination & Decommissioning Engineering Company, will exist within the holding company system after the transition and will be responsible for the balance of payments, results and quality of each of their businesses.
The company is committed to making continuous efforts in order to establish a management structure which enables TEPCO to balance both "responsibility" and "competitiveness" as we engage in our business.
- Renewable power company
Hydroelectric power and new energy power generation businesses are currently managed by Power Grid Company (PGC). As we look toward the third stage of the electricity system reforms which will legally separate power transmission and distribution, we will separate these businesses from the PGC and establish them as a new in-house company. (The operation and maintenance of the power plants will continue to be managed by PGC.)
This company will aim to increase sales profit by developing new renewable energy sources, cutting generation costs and repowering hydroelectricity.
- TEPCO Research Institute
Technological development, Intellectual property management, and construction / architecture technology related functions, which are shared by each business, will be brought together to maintain and strengthen technological capabilities. The institute will aim to create and deploy new competitive technologies, and provide solutions arising from the field. It will also aim to become a new model for how research and development is conducted by a utility company by providing research on business and technological strategies linked to market liberalization as well as analysis and advisory on energy policies.
- Business Solution Company
Specialist and general business administration functions such as general affairs, personnel, training, accounting and internal systems which are common to each new business company will be integrated as a shared service company to provide effective and high quality solution services to improve the productivity of TEPCO's group companies.
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