New Management and Organizational Structure along with Integration of Existing Thermal Power Generation Businesses2019/02/04
JERA Co., Inc. (“JERA”) was founded in April 2015 with the aim of becoming a leading global energy company. Since its foundation, JERA has in stages integrated the fuel transportation and trading businesses, existing fuel businesses (upstream and procurement operations) and overseas power generation businesses of TEPCO Fuel & Power, Inc. (“TEPCO F&P”) and Chubu Electric Power Co., Inc. (“Chubu Electric”). JERA has undertaken numerous transactions to advance its overseas businesses.
In integrating the existing thermal power generation businesses of TEPCO F&P and Chubu Electric into JERA as of 1 April 2019, JERA will unify the full energy value chain, from upstream business and procurement through power generation and wholesaling of electricity and gas. With this, the full business integration planned at the time of JERA’s foundation will be completed.
At the time of reaching this major milestone, JERA will establish a new management and organizational structure. In this new structure, JERA will organize itself around the functions of “Business Development”, “Optimization” and “O&M (Operation & Maintenance)”, and seek to achieve cutting edge excellence in each function.
Under the new management and organizational structure, JERA has set as its New Mission “to provide cutting edge solutions to world’s energy issues”, and a Future Vision to be “a global leader in LNG and renewables sparking the transition to a clean energy economy”. Through proactively tackling various energy issues in Japan and abroad, JERA will work to enhance its enterprise value continuously.
Roadmap for Business Integration
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7 October 2014 |
The company formerly known as Tokyo Electric Power Company, Inc. (“TEPCO”) and Chubu Electric enter into a memorandum of understanding on the formation of a comprehensive alliance covering the entire energy supply chain, from upstream investments and fuel procurement through power generation. |
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9 February 2015 |
TEPCO and Chubu Electric conclude a joint venture agreement to implement “a comprehensive alliance covering the entire energy supply chain, from upstream investments and fuel procurement through power generation”, and “Roadmap”. |
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30 April 2015 |
JERA is founded. JERA integrates the following 3 businesses of its shareholders: - Development of new upstream energy investments and new fuel procurement - Development of new overseas power plants and energy infrastructure - Development and replacement of domestic thermal power plants |
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1 October 2015 |
JERA integrates fuel transportation and fuel trading businesses of its shareholders. |
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1 July 2016 |
JERA integrates the following 2 businesses of its shareholders: - Existing fuel businesses (including upstream investments, fuel procurement) - Existing overseas power generation and energy infrastructure businesses |
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27 February 2018 |
A basic agreement on integrating into JERA the existing thermal power generation businesses of its shareholders is concluded. |
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1 April 2019 (Planned) |
JERA integrates the above thermal power generation businesses of its shareholders. |