Chubu Electric Power Group Report 2021(Integrated Report)
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Management Discussion and Analysis of Operating Results, Financial Standing, and Cash FlowsChubu Electric Power Miraiz Co., Inc.’s energy sold decreased by 6.5 TWh from the previous scal year to 110.7 TWh due to a decrease in demand for electricity resulting from the impact of coronavirus (COVID-19). Total energy sold by Chubu Electric Power Miraiz Co., Inc., consolidated subsidiaries, and afliates accounted for under the equity method decreased by 5.4 TWh from the previous scal year to 117.1 TWh. Despite an increase in the operation of air conditioning equipment due to the impact of summer and winter tem-peratures, electricity demand in Chubu region decreased by 3.1 TWh. from the previous year to 123.9 TWh. In terms of operating balance, consolidated operating revenue decreased by 130.5 billion yen to 2,935.4 billion yen compared with the previous scal year, mainly due to a decrease in electrical energy sold caused by the impact of COVID-19. Ordinary income increased by 0.4 billion yen to 192.2 billion yen compared with the previous year mainly due to improvement of management efciency across the group, an increase in prot by providing electricity to outside Chubu area implemented because of the tight supply and demand this winter, an increase related to loss on divestiture of LNG in the previous consolidated scal year in JERA, in spite of the impact of COVID-19 (a decrease of 30.0 billion yen) such as a decrease in electricity sold, and a reduction of the time lag income incurred by fuel cost adjustment system. Consolidated ordinary income amounted approximately to 169.0 billion yen after excluding the time-lag impact, representing a increase of approximately 16.0 billion yen compared with the previous year. As a result, net income attributable to owners of parent decreased by 16.2 billion yen to 147.2 billion yen, compared with the previous scal year. Below is the performance by segment (before elimination of inter-segment transactions) of this consolidated scal year. Chubu Electric Power Miraiz Co., Inc. succeeded retail electricity business and Chubu Electric Power Grid Co., Inc. succeeded general transmission and distribution businesses. Accordingly, from the current consolidated scal year, the reporting segment has been changed into “Miraiz”, “Power Grid” and “JERA”. Moreover the segment classication of some subsidiaries and afliates has been changed. In the following comparison with the previous consolidated scal year, the gures of the previous consolidated scal year have been reclassied to reect these changes. Furthermore, JERA is the afliate accounted for under the equity method so that operating revenues are not recorded.Operating revenue from a total energy service centered on gas & electric power decreased by 242.1 billion yen to 2,418.2 billion yen compared with the previous scal year, mainly due to a decrease in electrical energy sold caused by the impact of COVID-19. Ordinary income decreased by 7.2 billion yen to 38.0 billion yen mainly due to a decrease in electrical energy sold and an impact of deterioration in procurement environment by tight supply and demand this winter, in spite of the effort to reduce power procurement costs.Operating revenue from provision of power network services increased by 91.2 billion yen to 842.8 billion yen compared with the previous scal year, mainly due to an increase in grant based on Act on Special Measures Concerning Procurement of Electricity from Renewable Energy Sources by Electricity Utilities and an increase in income by providing electricity to outside Chubu area implemented because of the tight supply and demand, in spite of a decrease in electricity demand in Chubu region. Ordinary income increased by 10.8 billion yen to 58.8 billion yen mainly due to an increase of revenue by the tight supply and demand in electricity in spite of a decrease in electricity demand in Chubu region.Ordinary income from fuel upstream, procurement to power generation and wholesale of electricity/gas business decreased by 5.5 billion yen to 65.6 billion yen compared with the previous scal year, mainly due to a reduction of time lag income and the impact of the COVID-19, in spite of Analysis of Operating Results(TWh, %)FY2020 (A)FY2019 (B)Change (A-B)Rate of Change (A-B)/BLow voltage33.934.6(0.8)(2.2)High voltage Extra-high voltage76.982.6(5.8)(7.0)Total110.7117.2(6.5)(5.6)* The amount of electricity sold is the actual results for Chubu Electric Power Miraiz Co., Ltd.* The gures are calculated for the previous scal year as the results for Chubu Electric Power Co., Inc. Sales Company.Reference (1):Electrical energy sold including group companies*117.1122.5(5.4)(4.4)* The sum of Chubu Electric Power Miraiz Co., Inc., consolidated subsidiaries, and afliates account-ed for under the equity method.* The gures are calculated for the previous scal year as the results of Chubu Electric Power Co., Inc. Sales Company, subsidiaries, and afliates accounted for under the equity method.Reference (2):Electrical Energy Sold to other companies*10.49.90.44.2* The amount of electricity sold by other companies is the actual result of Chubu Electric Power Miraiz Co., Ltd.* The gures for the previous scal year are calculated as the results of Chubu Electric Power Co., Inc. Sales Company.l Electrical Energy Sold(TWh, %)l Electricity demand in Chubu region.FY2020 (A)FY2019 (B)Change (A-B)Rate of Change (A-B)/BElectricity demand in Chubu region.123.9126.9(3.1)(2.4)* Electricity demand in Chubu region is the actual results of Chubu Electric Power Grid Co., Ltd.* The gures are calculated for the previous term as the actual results of Chubu Electric Power Co., Inc. Network Company.l Electrical Energy Sold2016201720182020(TWh)(FY)0110.72019117.2121.8121.4150.0100.050.0118.3Low voltageHigh voltageExtra-highvoltageTop CommitmentValue CreationClimate ChangeStrategyBusiness ActivitiesGovernanceHuman ResourcesFinancial / Corporate Data83Chubu Electric Power Group Report 2021

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