Key Point of President's Regular Press Conference

March 2023 Regular Press Conference : President Hayashi's Message

March 29, 2023
Chubu Electric Power Co.,Inc.

First of all, I would like to talk about the inappropriate handling of customer information.
Chubu Electric Power Grid and Chubu Electric Power Miraiz have started to implement measures such as educating employees on regulations of conduct. On March 17, Chubu Electric Power Grid announced the development of a new organization and framework to ensure neutrality, which will become the pillar of recurrence prevention.
The Chubu Electric Power Group will make utmost efforts to enforce recurrence prevention measures as a group with Chubu Electric Power Grid and Chubu Electric Power Miraiz working firmly and the “Recurrence Prevention Joint Review Committee” chaired by myself confirming and verifying the efforts of the two companies, so that a similar incident will never occur again.

I will be discussing the following matters today:
- Measures to reduce the burden of the electricity rate

Measures to reduce the burden of the electricity rate

Last October, Chubu Electric Power and Chubu Electric Power Miraiz announced that we will revise the standard electricity rate menu for special high-voltage and high-voltage customers from April 2023 in order to stably supply electricity to our customers, even as power supply procurement cost drastically increases.
On the other hand, in the financial results for the third quarter of fiscal 2022, the Group’s financial results for the current fiscal year are expected to drastically improve as a result of a combination of various variables.
Many variables and uncertainties are likely to remain in the next fiscal year, but the Chubu Electric Power Group promptly incorporates changes in the business environment into our policies, and we announced that we will examine ways to reduce the burden on our customers.
Thereafter, we have continued our examination based on the fact that fuel prices are falling at the moment and on management efforts of the entire Group such as expanding management efficiency measures and strengthening our market responsiveness.
As a result, we have decided to discount 2.09 yen per kWh of usage from June to October this year, as a measure to reduce the burden of the electricity rate for special high-voltage and high-voltage customers in all of the Chubu area.
Estimation with a model case indicates that this will reduce the burden by approx. 5.3% to 6.9%.
We will also support households and other low-voltage customers in energy conservation and decarbonization, and give out gift cards to customers who replace their air conditioners and refrigerators with energy-saving equipment and newly apply for a lease contract for solar power generation equipment and storage battery in a campaign to reduce the burden of the electricity rate.
In addition, we will also give out points to reduce the burden of the electricity rate in the summer.
At the same time, we will continue to provide menus and services for cooperation in saving electricity that we have been implementing since last year, targeting special high-voltage and high-voltage customers as well as low-voltage customers.
The total amount for burden reduction measures I talked about today is approx. 66 billion yen for the subject period.
Measures to reduce the burden of the electricity rate to be implemented after November and measures to help customers and the society in aspects other than electricity rate will continue to be broadly examined based on fuel prices and future business environment.
It is currently difficult to forecast the future business environment and present the overall image of the measures, but the Chubu Electric Power Group will continue to make utmost efforts to contribute to the sustainable development of the region and society with our customers.
Lastly, this winter had days when electricity demand increased due to the cold wave in late January, but we were able to stably deliver electricity thanks to the cooperation of customers in saving electricity.
I would like express our gratitude to the many customers who cooperated in saving energy from last December to this day.
The Chubu Electric Power Group will continue to take all possible measures to secure stable supply by making all-out efforts to address both supply and demand sides.

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