Business / Corporate

Tepco to expand services to cover almost all of Japan

JIJI

Tokyo Electric Power Company Holdings Inc., known as Tepco, said Tuesday the group will sell electricity to households across Japan, with the exception of Okinawa Prefecture, from Wednesday.

The group hopes to acquire customers in new regional markets while keeping users who leave the greater Tokyo area from switching to other utilities.

It also aims to strengthen its profitability amid intensifying competition following the full liberalization of electrical services in 2016.

The Tepco group will start selling power in Hokkaido and the Hokuriku, Chugoku and Shikoku regions.

Beyond its home market, Tepco already sells electricity to households in Tohoku, Chubu, Kansai and Kyushu.

In the four new regions, Tepco set electricity rates some 3 percent lower than those offered by its major rivals.

A household whose monthly power bill stands at ¥8,000 will see a decrease of around ¥250, according to company officials.

Some other companies, including KDDI Corp., have already started nationwide power retailing. Tepco’s move is expected to help lower electricity rates further.

Nationwide power retailing was included in the group’s business restructuring plan released in 2017.

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