Chubu Electric Power Co.,Inc. | January 2021 Regular Press Conference : President Hayashi's Message - Key Point of President's Regular Press Conference (2021)

Key Point of President's Regular Press Conference (2021) January 2021 Regular Press Conference : President Hayashi's Message

January 29, 2021

Chubu Electric Power Co.,Inc.

  • I will be discussing the following matters today:
  • Tight electric power supply and demand nationwide
  • Executive personnel assignments

Tight electric power supply and demand nationwide

  • First, I would like to talk about the tight supply and demand conditions for electric power nationwide.
  • The cold wave that started at the end of last year intensified demand for electric power nationwide. In the Chubu region as well, the one-time peak load recorded its highest level ever since the Great East Japan Earthquake for winter, hitting 24.09 GW on January 8.
  • The sudden increase in demand strained supply and demand, particularly in western Japan. As a result, Chubu Electric Power Grid began on December 27 to provide supplementary power to support other electric power utilities.
  • Although the situation was challenging in the Chubu region as well, JERA boosted output at the Hekinan Thermal Power Station and procured LNG in the spot market. Our residential and business customers have graciously extended their cooperation by using electricity more efficiently and burning additional fuel at power generation facilities. This enabled us to secure the necessary supply capacity and we were able to interchange 114.92 GW over a total of 13 days. I would once again like to express my deepest gratitude to our customers for their cooperation.
  • Although the Japanese government and other authorities are currently studying what caused these market conditions, we believe that it was due to a variety of factors that compounded simultaneously, including the cold wave elevating demand for electric power, a decrease in solar power production on account of the adverse weather and a decline in fuel inventories for LNG-fired thermal power stations that accompanied that decrease.
  • In comparison to early January, current demand and supply conditions have improved nationwide and we have not interchanged power since January 16. In liaison with the Organization for Cross-Regional Coordination of Transmission Operators, we will continue to do our utmost to assure supply capacity and strive to maintain a stable supply of electric power.

Executive Personnel Assignments

  • Next, I would like to talk about our executive personnel assignments.
  • This year as the COVID-19 pandemic has spread, we have given top priority to the safety and health of our employees, their families, our partners, and customers and we have strived to provide a stable energy supply while also endeavoring to create new value and offer services.
  • Today, I am pleased to announce that we have decided on a new management structure that will accelerate these initiatives and realize our management vision.
  • We have appointed outstanding talent in these personnel assignments. These individuals will help us achieve an expanded revenue base and low-carbon society, which are also elements of our Management Vision, as well as bolster our on-site capability to deliver safe, inexpensive and stable energy.
  • So, I would like to discuss the executive personnel assignments as of April 1.
  • Musuda Hiromu and Mizutani Hitoshi will both be newly appointed to serve as executive vice presidents. In addition, three new senior managing executive officers are to be appointed, who will serve as general managers.
  • In addition, Chubu Electric Power Company, Chubu Electric Power Grid and Chubu Electric Power Miraiz have all assigned personnel with abundant practical experience who excel in leadership, management capability and strategic thinking to the best positions for which they are suited. We continue to actively promote outstanding young talent.
  • Representative Director Kurata Chiyoji will now serve as a director and Hiraiwa Yoshiro has stepped down from his position as a director.
  • I would like to continue on and talk about the director candidates for which we will seek approval at the annual shareholders meeting scheduled for June.
  • Ito Hisanori and Ihara Ichiro are the two new director candidates. Both of these fine individuals will serve as senior managing executive officers as of April 1.
  • With this new management structure, we will be able to pursue our unwavering mission that is to deliver environmentally-friendly good-quality energy in a safe, inexpensive and stable form, as well as to meet everyone’s expectations by maximizing the value we provide to our customers and society as well as continuing to take up the challenge of offering solutions to a variety of issues that society faces.

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