FY2020 Financial Results
April 28, 2021
Tokyo Electric Power Company Holdings, Inc.
Today, Tokyo Electric Power Company Holdings, Inc. (TEPCO HD) released its consolidated financial results for FY2020 (April 1, 2020~March 31, 2021).
Despite the entire Group's continual efforts to cut costs, consolidated ordinary income decreased year-on-year (YoY) by 28.1% to 189.8 billion yen due to a 5.7% decrease in total power sales volume to 231.5 billion kWh for the TEPCO Group as a result of increased competition and the impact of the COVID-19 pandemic.
Net income attributable to owners of the parent increased YoY by 256.8% to 180.8 billion yen after the posting of 142.1 billion yen of subsidies from the Nuclear Damage Compensation and Decommissioning Facilitation Corporation as extraordinary income with the appropriation of 140.7 billion yen of nuclear damage compensation as extraordinary loss.
[Ordinary income/loss for TEPCO HD and core companies]
Ordinary income/loss for FY2020 for each company is as follows:
- Ordinary income for TEPCO HD decreased by 130.7 billion yen YoY and resulted in a deficit of 7.9 billion yen due to a decrease in received dividends from core companies and a decrease in wholesale power sales to TEPCO Energy Partner, Inc.
- Ordinary income for TEPCO Fuel & Power, Inc. increased by 5.1 billion yen YoY to 69.8 billion yen due to improvement in revenue from its power generation business despite a worsening of the impact from the time-lag inherent to the fuel cost adjustment system for JERA.
- Ordinary income for TEPCO Power Grid Inc. increased by 52.3 billion yen YoY to 169.0 billion yen due to a decrease in depreciation expenses, etc. and an increase in consigned transmission earnings.
- Ordinary income for TEPCO Energy Partner, Inc. decreased by 53.5 billion yen YoY to 6.4 billion yen due to a decrease in power sales volume caused by increased competition and the COVID-19 pandemic.
- Ordinary income for TEPCO Renewable Power Inc. increased by 18.0 billion yen YoY to 48.1 billion yen due to an increase in wholesale power sales to TEPCO Energy Partner, Inc.
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