Tokyo Electric Power Co. (TEPCO) said it is restructuring the company April 1, 2016.
The company will be structured under a holding company to be known as Tokyo Electric Power Company Holdings (TEPCO Holdings). Its nuclear and decommissioning operations will remain under a new holding company, while its fuel and thermal generation operations will form a subsidiary called TEPCO Fuel and Power Inc. The transmission and distribution (T&D) business will become TEPCO Power Grid Inc., and its electricity retail operations become TEPCO Energy Partner Inc. In 2014, TEPCO was split into two main sections: A power generation business and a nuclear decommissioning unit dedicated to the Fukushima Daiichi nuclear site.
TEPCO said in a release that the power market is “undergoing a major period of change.” The demand for electric power decreases due to energy conservation and savings, and deregulation of the electricity retail market is scheduled for April 2016 and legal separation of the T&D sector is scheduled for 2020.
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