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    TEPCO: Consideration of Review of the Extra High-Voltage and High-Voltage Rate Plan (Standard Rate Plan)


    August 5, 2022 - Contify Energy News

     

      The TEPCO Group is working to provide a stable supply of electricity to its customers in this business environment where resource prices are soaring globally. However, power procurement costs have been rising resulting from a surge in fuel prices and wholesale electricity market prices due to concerns in the international fuel market of a fuel shortage propelled by the escalation of the conflict in Ukraine. In light of these situation, TEPCO Energy Partner, Inc. (hereinafter, TEPCO EP) has decided to consider to review the rates for the extra high-voltage and high voltage rate plans (standard rate plans) that are especially affected by fluctuations in wholesale electricity market prices.

      Original Press Release:

      Aug. 2 -- Tokyo Electric Power Company Holdings issued the following news release:

      The TEPCO Group [1] is working to provide a stable supply of electricity to our customers in this business environment where resource prices are soaring globally.

      However, power procurement costs have been rising resulting from a surge in fuel prices and wholesale electricity market prices due to concerns in the international fuel market of a fuel shortage propelled by the escalation of the conflict in Ukraine.

      In light of these situation, TEPCO Energy Partner, Inc. (hereinafter, TEPCO EP) has decided to consider to review the rates for the extra high-voltage and high voltage rate plans (standard rate plans [2] ) that are especially affected by fluctuations in wholesale electricity market prices. We will be announcing the details by the end of September 2022.

      Currently we are only able to offer the market-price-linked rate plan [3] for extra high-voltage and high-voltage customers who are looking to switch to TEPCO EP from other retail operators. However we are planning to announce the details and start discussions by the end of September 2022 regarding the offering the standard rate plan with the reviewed prices which will be supplied from April 2023.

      The TEPCO Group will continue to further enhance our efforts to reduce the burden of utility costs on customers including household customers by providing support for energy conservation and electricity saving. We will also endeavor to provide a stable supply of electricity, and will promote the local production and the local consumption by introducing solar power generation facilities and storage batteries domestically, thereby contributing to the realization of comfortable and secure lifestyles for our customers.

      Footnotes:

      [1] The TEPCO Group is comprised of five companies: Tokyo Electric Power Company Holdings, Incorporated, TEPCO Fuel & Power, Incorporated, TEPCO Power Grid, Incorporated, TEPCO Energy Partner, Incorporated and TEPCO Renewable Power, Incorporated

      [2] The types of contracts in the Electricity General Supply Provisions for extra high-voltage and high-voltage Plans

      [3] Rate structure where the base rate fluctuates according to the spot price at the Japan Electric Power Exchange

      Source: Tokyo Electric Power Company Holdings

      [Category: Energy, Power, ESG]

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