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President Katsumata's Speech Summary at the Press Conference

Today, I would like to report on the electric power supply and demand situation for this summer, the launch of our 'ECO Support Plan' which supports energy conservation in the home and office and CO2 reduction efforts and the operational status of the newly activated 'Switch Campaign.'

(The Electric Power Supply and Demand for this Summer)

Last summer, due to the suspension of nuclear power, there was a shortage in electric power supply. We would like to apologize to our customers and to society as a whole, for the inconvenience and would like to thank the many people who cooperated in conserving energy.

We were saved by the fact that the summer last year had record setting cool weather. This year, on the other hand, the summer looks to be very summer-like. On the 31st of last month the weather became as hot as a summer day and set a record for May, with a maximum electric power output of 49.56 million kW, surpassing the last record by 3.5 million kW.

For this summer, the maximum electric output for a regular summer day would be 62 million kW and for very hot weather the expected maximum electrical demand would be 64.5 million kW.

On the supply side, first of all, concerning nuclear energy, 13 reactors have been reactivated and currently 12 reactors are in operation. We will also continue to prepare the remaining 4 reactors with safety as our top priority.

As a result, for this summer, even if we do experience extreme heat, we will be able to supply 67 million kW, with the prospect of obtaining a capacity reserve of 2 million kW, more than 3% of total supply.

The 'Electricity Forecast' will be available as last year, on our website from July 5th. The supply capability and expected peak demand will be published in the evening and morning of each day. Last year, only still graphics were available, but this year animated graphics will be available as well.

(ECO Support Plan and the 40th Anniversary of Oze)

TEPCO has dedicated this month as 'TEPCO Environment Month' and we are conducting various events and activities. Especially for this year, TEPCO had announced the unifying concept 'TEPCO's ECO.' The aim for this concept is, 'produce electricity that is environmentally sound and have our customers use such electricity in an efficient manner, which will allow for a healthy environment to coexist with a comfortable life, the realization of a society that uses energy in a highly efficient manner.

Also from this July, TEPCO will begin the 'ECO Support Plan' to support our customers' energy conserving efforts at the household and office as well as CO2 reduction activities.

In support of our customers, TEPCO will offer, 'ECO Support Money' equivalent to the worth of the CO2 emission reduction amount resulting when a household purchases our highly efficient electric hot water supply unit 'ECO Cute' which also reduces CO2 emission or mid-sized office buildings which incorporates new energy conserving methods in accordance with the ESCO enterprise.

TEPCO will also make similar 'ECO Support Money' payments when cooperating with local governments to maintain public forest areas and the tree planting efforts at TEPCO's Oze-Tokura forest. TEPCO, with its customers, will actively participate in new 'forest building' efforts.

This plan is unprecedented in terms of enabling our household and mid-size office building owner customers to understand firsthand that their energy conservation efforts directly contributes in helping stop global warming.

TEPCO owns 70% of Oze (3 times the size of the area within the Yamanote-line), which is one of the locations chosen for the Forest Preservation Act (Oze area: approx. 90 million m2, Katashina-village Tokura area: approx. 90 million m2). This year just happens to be the 40th year since preservation actions began in the Oze-Ayame field, honored as the 'Garden of Heaven.'

TEPCO has long actively participated in protecting this precious and beautiful nature by restoring the marsh/meadow area and maintaining the wooden pathways damaged by hikers, removing litters, and afforestation activities by the volunteers. Using our 40 year experience in nature protection activities in Oze and combined with the new start of the 'ECO Support Plan' going into effect, TEPCO will continue to positively participate in forest building efforts with our customers.

(The Summary for the 'Switch Campaign')

The purpose of this campaign, executed from April 15 to May 31, was to introduce the superior convenience and comfort of our All-Electric system, IH Cooking Heater, and ECO Cute system and increase retail activity.

During the campaign, events were held at approximately 380 locations including Tokyo Dome and Roppongi Hills, with a total of one million people visiting our campaign locations. We also actively held classes to experience our IH Cooking Heaters at model housing display areas and electrical seminars for our sub-users.

In beginning the campaign, the goal was to sell four thousand IH Cooking Heater units, two thousand Electric Water Heating systems and with your cooperation we were able to exceed our expectations.

In April last year, the AIU Insurance Company introduced discounted fire insurance for All-Electric households and following in May, Yachiyo Bank lowered interest rates on loans for reforming or building new All-Electric households. In the near future, UFJ Bank and Mitsui Sumitomo Bank will also offer similar products. We strongly feel that the introduction of such products by financial institutions, experts in risk management, confirms to us that the merits and outlook for an All-Electric Household have been given a positive evaluation.

We feel a positive movement, even in the area of household heating, hot water supply systems, areas which have traditionally been weak points for electric power. Using such tools as enforcement, we will aggressively pursue retail activities for our IH, ECO Cute and All Electric Households.

Appendix:Outlook for Supply and Demand, Summer 2004

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