The Diet on Wednesday enacted legislation to end the grip regional monopolies have held for 60 years on the household electricity market by opening it up to greater competition.
The move is expected to revolutionize the ¥7.5 trillion market for households and other small consumers in around 2016, as part of a broader shake-up of the country's power industry in the wake of the 2011 Fukushima nuclear crisis, which exposed weaknesses in the nation's power grid and pushed up electricity prices.
Households will become able to choose their supplier, shopping around for the best prices or for those offering power from renewable sources.