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Japan to set up national supplementary power capacity market

Major utilities look to lower cost of backup electricity via nationwide auctions

Japan's electrical grids are effectively divided into 10 regional monopolies with little access to each other.

TOKYO -- Four of Japan's biggest utilities plan to jointly establish a nationwide marketplace for supplementary power to do away with the costly and fragmented auctioning system they have been using all these years.

Tokyo Electric Power Co. HoldingsKansai Electric Power, Chubu Electric Power and Hokuriku Electric Power have signed a preliminary agreement with the aim of launching the market during the fiscal year starting April 2020.

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