Press Release

JERA to Succeed to Parent Companies’ Existing Thermal Power Generation Businesses

JERA Co., Inc. (“JERA”) hereby announces that it will succeed to the fuel receiving, storage, and gas transmission businesses along with existing thermal power generation businesses of TEPCO Fuel & Power, Incorporated and Chubu Electric Power Co., Inc. (collectively, the “Parent Companies”) as of 1 April 2019. Succession to these businesses is based on the approvals given at the general shareholders’ meetings of the Parent Companies today.

The assets that JERA will succeed to consist of the LNG terminals, existing thermal power generation plant and related companies of the Parent Companies. (Please refer to the appendix“List of Principal Succession Assets”)

By succeeding to and integrating these businesses, JERA will unify the full energy value chain, from upstream fuel project investment and procurement, through power generation and wholesaling of electricity and gas. JERA will seek to optimize these assets and maximize the effect of integrating these businesses at an early stage after the integration.