Today I will be discussing our Plan for the Development of the Nishi-Nagoya Thermal Power Station Group No. 7.

•  Chubu Electric Power Co., Inc. today decided on a plan that will see us decommission Units No. 1 to 4 of the Nishi-Nagoya Thermal Power Station and construct an LNG combined cycle facility with the world's highest standard of efficiency in the station.
•  Prior to this announcement, we informed the Tobishima-mura and Aichi Prefecture administrations of our plan for the development of the Nishi-Nagoya Thermal Power Station Group No. 7.
•  This plan will see us decommission and demolish Units No. 1 to 4, and demolish former Units No. 5 and 6, which have already been decommissioned. In their place, we will construct a 2,200 MW high-efficiency LNG-fired thermal facility, scheduled to commence operation in fiscal 2019.  
•  Nishi-Nagoya Thermal Power Station Group No. 7 will be powered by liquefied natural gas, and will be a combined cycle facility, generating power using a combination of gas and steam turbines.
•  The planned output of the facility, at 2,200 MW, will correspond to approximately 9% of the total output of Chubu Electric's thermal power stations, which is approximately 24,000 MW.
•  We are presently planning the introduction of the very latest gas turbines and other generating equipment, which will offer us the world's highest level of thermal efficiency, at approximately 60%. This figure is even higher than the figure of more than 58% for the Joetsu Thermal Power Station that we are presently constructing in Joetsu City, Niigata Prefecture, and will represent the highest level of thermal efficiency of any of Chubu Electric's facilities.
•  The facility will normally use LNG, but some of the equipment will be able to be fueled by oil to ensure a stable supply of power during periods when demand is high and it is not possible to procure additional LNG.
•  By refurbishing a power station that has been in operation for about 40 years with high-efficiency equipment, we will increase the overall thermal efficiency of our thermal power stations, and reduce both CO₂ emissions and the amount of fuel we use.
•  In implementing our plan, we hope for the understanding and the assistance of the residents of the area around the facility and everyone else involved.
•  As electric utilities, we are responsible for approximately 30 percent of domestic CO₂ emissions. Actively working to reduce CO₂ emissions and contribute to the realization of a low-carbon society is therefore an important responsibility for electric utilities. At Chubu Electric Power Co., Inc., we position the protection of the global environment as one of our most important management agendas.
•  Given this, we seek to reduce CO₂ emissions by developing high-efficiency LNG-fired thermal power stations, increasing our rate of use of nuclear facilities, with safety as our highest priority, developing power stations using renewable energies, including wind and mega-solar generation, and making use of Kyoto mechanisms. We believe that the present development plan further advances these initiatives for the protection of the global environment.
•  Our mission for the public good is to provide a stable supply of safe, low-cost and environmentally friendly energy in order to support our customers' lifestyles and the development of our region. Responding to the trust that our customers place in us, we are working to thoroughly fulfill this mission.

 That concludes my remarks for today.

Reference

• Plan for Development of Nishi-Nagoya Thermal Power Station Group No. 7