Other Press Conferences

March 2022 Regular Press Conference: President Hayashi’s MessageMarch 2022 Regular Press Conference: President Hayashi’s Message

March 18, 2022
Chubu Electric Power Co.,Inc.

First, I would like to say a few words about the earthquake that occurred on the 16th offshore Fukushima Prefecture.I heard this earthquake caused widespread power outage and largely affected business activities and the lives of the local people due to infrastructure damage such as water outage and disruption of transportation network.
We express our deepest sympathy to those who were affected by the earthquake and pray for a speedy return to normalcy. As a group responsible for infrastructure, we will also continue to make steady efforts to prepare for large-scale disasters. 。

Chubu Electric Power Group Management Vision 2.0

Since Chubu Electric Power Group formulated the “Chubu Electric Power Group Management Vision” in March 2018, society’s structure and our lifestyles have been considerably changed due to the progress of digital transformation (DX) and the COVID-19 pandemic.
In particular, the business environment surrounding the energy business has reached a historical turning point with the acceleration of government decarbonization policies in the aim of realizing carbon neutrality by 2050.
We view these changes in our business environment as a new business opportunity and challenge to be forthrightly addressed as we look toward our vision of society in 2050. That is why we formulated the “Chubu Electric Power Group Management Vision 2.0” last November.
Management Vision 2.0 backcasts from the society that we are aiming for in the year 2050 and embodies what our group will realize by the year 2030 so that we may contribute to sustainable development of our community and society through the growth and excellent performance achieved by each and every one of our valued human resources.
We envision that society in 2050 will be one that is carbon-free, safe, secure, decentralized, and recycling-oriented. We also anticipate that electric power will allow us to optimally control all kinds of things.
Although this will reduce the final energy consumption by half due to energy conservation and improved utilization efficiency, we expect power consumption will increase due to the progress of electrification, which will further increase the importance of electricity.
To address such transformation of the society, our group will work to decarbonize power systems that support various infrastructures and upgrade the power grid.
In addition, the Chubu Electric Power Group will expand from the conventional energy business into real estate and resource recycling as well as lifestyle-related businesses such as medical services and healthcare.
Additionally, acceleration of initiatives such as building platforms that connect businesses and providing highly value-added services utilizing data will allow us to transform our business model and deliver new values tailored to the diverse needs of our community and customers in a timely manner.
In the Zero Emissions Challenge 2050 developed last March, the Chubu Electric Power Group set the target to reduce CO₂emissions sourced from electricity we sell to our customers by at least 50% compared to 2013 levels by 2030. We will implement various measures such as expanding the use of renewable energies, maximizing nuclear power generation, cofiring hydrogen and ammonia in thermal power production, and developing energy-saving solutions. Ｗe have raised our previous goal of developing at least 2 million kW of renewable energy by around the year 2030 to a higher target, which we set in Management Vision 2.0, of at least 3.2 million kW.
In order to achieve this goal, we will work with our customers to decarbonize the society as a whole by offering useful services and construction and maintenance of the customers’ renewable energy systems as a set, in addition to the development of renewable energies such as offshore wind power generation.
Additionally, the Chubu Electric Power Group is working to restart Hamaoka Nuclear Power Station to utilize nuclear power. Hamaoka Nuclear Power Station is currently undergoing a review to verify compliance with the new regulatory requirements.
We will continue to diligently facilitate the Nuclear Regulation Authority’s review, and do everything we can to have the power station’s compliance verified at the earliest possible date as well as take advantage of a variety of opportunities to provide the community and society with conscientious explanations of our initiatives.
I believe that it is our human resources, our intrinsic corporate value, that support these challenging initiatives as we move towards 2030.
Our group will strengthen technological development and our human resources strategy of diversifying, advancing, and appropriately assigning our personnel so as to develop “human resources with the mindset and ability to take on challenges”, “human resources capable of implementing innovations in society” and “human resources capable of pursuing the evolution of energy delivery”, thereby contributing to the sustainable development of our society by resolving the issues our community and society face through such growth and performance of our human resources.
The Chubu Electric Power Group will transform the business portfolio so as to increase the ratio of profits generated by new growth areas such as global business and increase its ratio to domestic energy business from 1:4 to 1:1, in order to achieve our goal for 2030.
To do so, we will make strategic investments of about 1 trillion yen from FY2021 to FY2030 while considering financial stability such as capital efficiency and cash flow.
In the global business which is at the core of such efforts, we will form an optimal portfolio in Europe from Dutch Energy Supply Company, Eneco, in which we jointly invested with Mitsubishi Corporation, and in Vietnam from Bitexco Power Corporation, in which we invested last September,
Additionally, last December, we announced our initiatives to promote DX which is essential to realize Management Vision 2.0. We will promote DX from both the “transformation in customers services” which deliver new values and “business transformation” which increases efficiency and sophistication of businesses.
Today I talked about how the Chubu Electric Power Group will realize Management Vision 2.0 toward 2030, but the group’s current income and expenditures continue to face a difficult situation due to the increase in the cost for procuring power sources from the wholesale power trading market and the cost for adjusting the power demand and supply, associated with the global rise in fuel prices.
In addition, the future remains uncertain due to the situation in Ukraine and the changing situation of economic sanctions against Russia by various countries.
Its impact is spreading to the resources and energy area, which is expected to expand in the future.
Our group will continue to keep a close eye on the global energy situation, and appropriately address risks of shortage of fuel supply and further rise in prices to stably supply electricity.
Additionally, the entire group will carefully select expenditures in response to the current difficult business situation, and we will implement various measures so that each business can face its own market and maximize profits. We will do our utmost for our initiatives to realize Management Vision 2.0.

Back to list