TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC.

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Delayed Japan Exchange  -  02:00 2022-07-05 am EDT
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Japan's JERA prepares to revive a second aged power unit at Anegasaki

06/22/2022 | 07:58am EDT
Japan's biggest power generator JERA prepares for restart of some aged units, in Chiba

ANEGASAKI, Japan (Reuters) - JERA, Japan's biggest power generator, has started preparation work to restart another aged power generation unit at its Anegasaki thermal power station, near Tokyo, to help the region avoid any power crunch during the peak winter demand season.

Japan's energy supply problems relate to various domestic issues, including the suspension of some plants after March earthquakes in Fukushima, a drop in the number of thermal plants and delays to the restart of nuclear plants because of tighter regulation following the Fukushima disaster in 2011.

JERA is already set to restart the 45-year-old 600 megawatts (MW) No.5 gas-fired unit in Anegasaki between July 1 and Aug. 31, as it has won an auction to provide extra electricity during the summer to make up for any shortfall.

The company has begun equipment inspection work of the 600 MW No.6 gas-fired unit, with a view to resuming operation in the winter, when the electricity supply situation is expected to be even more severe than in the summer, Hiroaki Kamei, general manager at Anegasaki power station, told reporters on Wednesday.

Japan is predicted to face tight power supply this

summer, with three out of a total of 10 regions expecting excess generation capacity to fall in July towards the 3% threshold that makes shortages and blackouts more likely.

Electricity supply is expected to become even tighter in the winter, with estimated excess capacity declining below 3% in seven out of 10 regions in January and February, including the Tokyo area, where it is expected to slide below 0%.

"We are checking all equipment of No.6 unit to determine whether it can be restarted and what parts need repair," Kamei said during a media tour of the facilities.

It will take about six months to inspect equipment and order necessary parts for repair as the 43-year-old unit has been mothballed since spring last year, he said.

It would be desirable to have a nation-wide electricity supply plan determined at the earliest possible time, he said.

JERA had retired Anegasaki's four old units last December to make way for three new, less polluting gas-fired units it is building with the aim to start commercial operation next year.

(Reporting by Yuka Obayashi. Editing by Jane Merriman)

By Yuka Obayashi


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHUBU ELECTRIC POWER CO., INC -0.50% 1399 Delayed Quote.16.01%
KAMEI CORPORATION -0.09% 1061 Delayed Quote.1.82%
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC. -0.15% 653 Delayed Quote.120.20%
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Financials
Sales 2022 5 141 B 37 886 M 37 886 M
Net income 2022 -34 850 M -257 M -257 M
Net Debt 2022 - - -
P/E ratio 2022 -30,1x
Yield 2022 -
Capitalization 1 046 B 7 710 M 7 710 M
Capi. / Sales 2022 0,20x
Capi. / Sales 2023 0,17x
Nbr of Employees 37 891
Free-Float 92,8%
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Mean consensus SELL
Number of Analysts 3
Last Close Price 654,00 JPY
Average target price 343,33 JPY
Spread / Average Target -47,5%
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Managers and Directors
Tomoaki Kobayakawa Executive President & Director
Yoshimitsu Kobayashi Chairman
Hideko Kunii Independent Director
Hideo Takaura Independent Outside Director
Shigeo Ohyagi Independent Outside Director
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