Chubu Electric and INPEX Enter Joint Business Agreement on Power Supply with Nine City Gas Companies in Tokyo Metropolitan Area
January 21, 2016
Chubu Electric Power Co.,Inc.
Chubu Electric Power Co., Inc. (Chubu Electric) and INPEX CORPORATION (INPEX) jointly announced today they have entered joint business agreements with nine city gas companies in the Tokyo metropolitan area on the supply of wholesale electricity.
The nine tripartite business agreements combined will provide Chubu Electric and INPEX access to a market of up to approximately 300,000 households in the Tokyo metropolitan area.
The two companies aim to supply electricity to 20,000 households in fiscal year 2016.
The joint business agreements are based on a heads of agreement between Chubu Electric and INPEX entered on July 21, 2015 to roll out a joint plan on the supply of electricity to city gas companies that supply natural gas procured from INPEX.
INPEX and Chubu Electric continue to be committed to flexibly responding to customers' energy needs ahead of the liberalization of the retail electricity and gas markets.