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Chubu Electric Power

From Wikipedia - Reading time: 11 min
Chubu Electric Power Co., Inc.
Native name
中部電力株式会社
Chūbu Denryoku kabushiki gaisha
Company typePublic (Kabushiki gaisha)
IndustryEnergy
FoundedMay 1, 1951; 73 years ago (1951-05-01)
FounderDouglas MacArthur, SCAP
Headquarters
Higashi-ku, Nagoya
,
Japan
Area served
Aichi, Nagano and part of Gifu, Mie, Shizuoka Prefectures
Key people
Akihisa Mizuno (Chairman)
Satoru Katsuno (President)
ProductsNatural gas production, sale and distribution, electricity generation and distribution, hydroelectricity, wind power, energy trading
RevenueIncrease ¥3.61 trillion (FY, 2023, consolidated)
Increase ¥121,483 million (FY, 2016, consolidated)
Increase ¥403.14 billion (FY, 2023, consolidated)
Total assetsIncrease ¥5,412,307 million (FY, 2016, consolidated)
Total equityIncrease ¥1,724,713 million (FY, 2016, consolidated)
Number of employees
28,370 (March 2024, consolidated)
Websitewww.chuden.co.jp/english

Chubu Electric Power Co., Inc. (Japanese: 中部電力株式会社, Chūbu Denryoku Kabushiki Kaisha), abbreviated as Chuden in Japanese, is a Japanese electric utilities provider for the middle Chūbu region of the Honshu island of Japan. It provides electricity at 60 Hz, though an area of Nagano Prefecture uses 50 Hz. Chubu Electric Power ranks third among Japan's largest electric utilities in terms of power generation capacity, electric energy sold, and annual revenue. It is also one of Nagoya's "four influential companies" along with Meitetsu, Matsuzakaya, and Toho Gas. Recently, the company has also expanded into the business of optical fibers. On January 1, 2006, a new company, Chubu Telecommunications, was formed.

History

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In 2008, Chubu Electric formed a joint joint venture with French utility company EDF to purchase coal. In 2016, Chubu Electric acquired EDF Trading’s coal and freight business and passed it onto its subsidiary JERA.[1][2][3][4] EDF Trading acquired a 33 per cent stake in JERA Trading as a part of the transaction while JERA took full control of the Amstuw BV, the operator of the Rietlanden coal terminal in the Netherlands and EDF Trading Australia.[5][6]

In 2015, Chubu Electric and Tokyo Electric Power Company (TEPCO) created a 50:50 joint venture JERA to handle the upstream energy and Liquefied natural gas (LNG) fuel procurement for both companies.[7] In March 2017, the two companies signed an agreement to integrate their fossil fuel power plants under the JERA joint venture.[8][9] The Fair Trade Commission (FTC) approved the integration plan in 13 October 2017.[10]

In August 2013, Chubu announced it would acquire an 80% stake in the Tokyo-based electricity supplier, Diamond Corp, marking the firm's entry into a market usually associated with Tokyo Electric Power Company (TEPCO).[11]

In November 2019, a consortium of Mitsubishi (80%) and Chubu Electric (20%) bought Dutch utility company Eneco for €4.1bn ($4.5bn).[12] In February 2024, Chubu Electric and Eneco signed an agreement to acquire 30 per cent of Ecowende, the developers of the Hollandse Kust West Offshore Wind Farm.[13]

In April 2020, the logo mark was renewed. The renewed logo is named "The Beam."

On 18 September 2022, Chubu Electric Power announced that it was a part of an investor consortium led by Japan Industrial Partners seeking to buy Toshiba.[14][15] Chubu Electric contributed ¥100 billion out of the ¥2 trillion (USD 15.2 billion) valuation.[16][17][18]

In May 2022, Chubu Electric bought some stake in Indian solar energy company OMC Power.[19] And in November 2024, Chubu Electric expanded its investment in OMC Power to boost energy transition in India.[20]

Power Stations

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The company has 197 separate generating units with a total capacity of 32,828 MW.[21]

Hydroelectric

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Kamiōsu Dam

The company has 183 separate hydro generating stations with a total capacity of 5,219 MW.

Thermal power stations

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The company has 11 separate thermal power stations with a total capacity of 23,969 MW.

Nuclear power stations

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On 6 May 2011, Prime Minister Naoto Kan requested the Hamaoka Nuclear Power Plant be shut down as an earthquake of magnitude 8.0 or higher is estimated 87% likely to hit the area within the next 30 years.[22][23][24] Kan wanted to avoid a possible repeat of the Fukushima I nuclear accidents.[25] On 9 May 2011, Chubu Electric decided to comply with the government request. In June, Chubu Electric received a ¥100 billion ($1.24 billion) loan from the Development Bank of Japan to finance natural gas purchases to make up the shortfall in power caused by the shutdown of Hamaoka.[26] In July 2011, a mayor in Shizuoka Prefecture and a group of residents filed a lawsuit seeking the permanent decommissioning of the reactors at the power plant .[27]

18–20 m breakwater walls were constructed around the nuclear power plant between 2011 and 2013.[28][29][30] In January 2024, Chubu Electric president Kingo Hayashi told a news conference that the firm was keen on restarting the Unit No. 4 subject to the completion of environment and safety reviews by the Nuclear Regulation Authority (NRA).[31]

In 2012, Chubu Electric proposed to build dry storage facilities to accommodate the spent fuel that has accumulated in the storage pools that were to be decommissioned.[32]

In August 2021, Chubu Electric reported that fire alarms had been triggered at the suspended Unit No. 5. There were no reported injuries or radiation leak and the company's statement reported that the local fire service confirmed that there was no fire.[33]

Other facilities

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References

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  1. ^ Terazono, Emiko (26 September 2017). "Jera's Kakimi warns over 'golden age' for LNG in Asia". Financial Times. Retrieved 21 May 2024.
  2. ^ "Chubu Electric to link with EDF on coal purchases". Reuters. 13 November 2007. Retrieved 21 May 2024.
  3. ^ "JERA to acquire EDF Trading's coal and freight business". JERA. 11 October 2016. Retrieved 2024-05-21.
  4. ^ "JERA to acquire EDF Trading's coal and freight business" (PDF). EDF. 11 October 2016. Retrieved 21 May 2024.
  5. ^ "Japan's JERA signs deal to buy EDF Trading's coal, freight arm". Reuters. 21 December 2016. Retrieved 21 May 2024.
  6. ^ Sanderson, Henry (11 October 2016). "EDF to sell coal and freight trading business to Japan's JERA". Financial Times. Retrieved 21 May 2024.
  7. ^ Iwata, Mari (7 October 2014). "Tepco, Chubu Electric Form World's Largest LNG Buyer". The Wall Street Journal. Retrieved 21 May 2024.
  8. ^ "Japan's Tepco, Chubu to merge fossil fuel power businesses". Reuters. 28 March 2017. Retrieved 21 May 2024.
  9. ^ "Tepco and Chubu combine to buy fuel and build power plants". www.ft.com. Retrieved 2024-05-21.
  10. ^ Osamu, Tsukimori (13 October 2017). "Japan's Tepco, Chubu Elec get regulatory nod to merge fossil power plants". Reuters. Retrieved 21 May 2024.
  11. ^ Kentaro Hamada (6 August 2013). "Chubu Electric to buy Tokyo power supplier, moves into Tepco's turf". Reuters.
  12. ^ Inagaki, Kana; Raval, Anjli (25 November 2019). "Mitsubishi-led consortium to buy Eneco for €4.1bn". Financial Times. Retrieved 21 May 2024.
  13. ^ "Chubu Electric Power to acquire 30% stake in Ecowende". NS Energy. 5 February 2024. Retrieved 21 May 2024.
  14. ^ "Bain and JIP consortiums emerge as frontrunners to buy Toshiba". www.ft.com. Retrieved 2024-05-21.
  15. ^ "Chubu Electric joins all-Japan Toshiba buyout consortium". Reuters. 18 September 2022. Retrieved 21 May 2024.
  16. ^ Yamazaki, Makiko; Shimizu, Ritsuko (27 March 2023). "The $15 billion scramble for Japan's Toshiba went from bang to whimper". Reuters. Retrieved 21 May 2024.
  17. ^ "Investment in improving corporate value of Toshiba". Chubu Electric Power Co., Inc. 21 September 2023. Retrieved 2024-05-21.
  18. ^ "Toshiba board accepts Japan Industrial Partners' $15 billion buyout proposal". CNBC. 2023-03-23. Retrieved 2024-05-21.
  19. ^ "Japan's Chubu Electric to buy stake in India's rural renewable energy service company OMC Power". The Economic Times. 31 May 2022.
  20. ^ "Chubu Electric Japan Expands Investment in OMC Power to Boost Energy transition in India". Bru Times News.
  21. ^ Tsukimori, Osamu (26 August 2011). "Japan Chubu Electric's power sources by type". Reuters. Retrieved 21 May 2024.
  22. ^ Story at BBC News, 2011-05-06. retrieved 2011-05-08
  23. ^ Story at Digital Journal. retrieved 2011-05-07
  24. ^ Story at Bloomberg, 2011-05-07. retrieved 2011-05-08
  25. ^ "Japan nuke plant suspends work". Herald Sun. May 15, 2011.[dead link‍]
  26. ^ Tsukimori, Osamu; Mukherjee, Arpita (24 June 2011). "Japan's Chubu Elec to get 100 bln yen emergency loan". Reuters. Retrieved 21 May 2024.
  27. ^ "Suit seeks to shut Hamaoka reactors for good". The Japan Times. July 1, 2011. Archived from the original on October 26, 2011.
  28. ^ "Blow-ups happen" (PDF). The Economist. No. Special Report - Nuclear Energy. 10 March 2012. p. 7. Retrieved 21 May 2024.
  29. ^ "World Nuclear Association - World Nuclear News". www.world-nuclear-news.org. Retrieved 2024-05-21.
  30. ^ "New safety measures for Hamaoka - World Nuclear News". www.world-nuclear-news.org. Retrieved 2024-05-21.
  31. ^ "Chubu Elec says Hamaoka nuclear power vital for stable power supply". Reuters. 19 January 2024. Retrieved 21 May 2024.
  32. ^ Hippel, Frank von; Sokolski, Henry D. (2012). Plutonium, Proliferation, and Radioactive-Waste Politics in East Asia (Report). Strategic Studies Institute, US Army War College. pp. 111–140.
  33. ^ "Chubu Elec confirms smoke at Hamaoka nuclear plant; says no radiation leak". Reuters. 17 August 2021. Retrieved 21 May 2024.
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