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Business

Joint thermal power venture may face conflict of agendas

TOKYO -- Tokyo Electric Power (Tepco) and Chubu Electric Power have agreed to set up a joint thermal power generation venture to cut costs and boost competitiveness, but there seem to be some potentially important differences in their agendas and priorities concerning the new company.

Top executives of Tepco and Chubu Electric pose for photos at an April 15 press conference in Tokyo to announce their thermal power joint venture, JERA. Left to right: Chubu Electric President Akihisa Mizuno, JERA President Yuji Kakimi, JERA Chairman Yoshihiro Naito and Tepco President Naomi Hirose.

     The two major electric utilities announced on Wednesday the joint establishment of a new company on April 30 to integrate much of their operations related to thermal power generation.

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