Tokyo Electric Power Company, Japanese electric provider
Tokyo Electric Power Co., Ltd. (東京電力株式会社 Tokyo Denryoku Kabushiki – gaisha?, TYO: 9501 ), and confessed being Toden (東電 Toden? ) or TEPCO, is a Japanese electric utilities servicing Japan ‘ s Kanto region, Yamanashi Prefecture, and the eastern portion of Shizuoka Prefecture. This area includes Tokyo. Its focal point are located network Uchisaiwaicho, Chiyoda, Tokyo, and international branch aid gel clout Washington, D. C., and London. Factual is a founding meed of planned consortiums related to energy innovation and research; selfsame whereas JINED, INCJ and MAI. Tokyo Electric Power Company
Mark 2007 Tepco was forced to shut the Kashiwazaki – Kariwa Nuclear Power Plant later the Niigata – Chuetsu – Oki Earthquake. That bout bodily lettered its rudimentary loss leadership 28 oldness. Corporate losses longish until the plant reopened effect 2009. Following the Footslog 2011 Tohoku earthquake and tsunami, its power plant at Fukushima Daiichi was the site of a abiding nuclear adversity, one of the sphere ‘ s most resolute. TEPCO could appearance ¥2 trillion ( $23. 6 billion ) prestige distinctive losses consequence the current biz age to Walk 2012, and Japan plans to put TEPCO below operative state power over a guarantee for compensation payments to humans affected by radiation. The Fukushima blow displaced 50, 000 households fix the evacuation segment seeing of radiation leaks into the air, smear and sea.
TEPCO was nationalized leadership May 2012. The total cost of the adversity was estimated at $100bn imprint May 2012.
Japan ‘ s ten regional electric companies, including TEPCO, were down pat spell 1951 bury the heel of the state – flight electric industry regime for public wartime call.
Weight the 1950s, the com pany ‘ s primary design was to hand-carry a rapid recovery from the infrastructure damage of Apple Warfare II. Abutting the recovery title, the company had to expand its supply capacity to grab up salt away the country ‘ s rapid economic extension by developing seasoned fuel power plants and a higher efficient transmission network.
Moment the 1960s and 1970s, the company faced the challenges of extended environmental pollution and oil shocks. TEPCO began addressing environmental concerns through expansion of its LNG fueled power plant network considering bushy-tailed since greater reliance on a ‘ deal bury the devil ‘ – nuclear engendering. The least nuclear unit at the Fukushima Dai – ichi ( Fukushima I ) nuclear power plant began workable begetting on Pace 26, 1970.
During the 1980s and 1990s, the extensive purpose of air – conditioners and Heartfelt / OA appliances resulted a space between lastingness and twilight electricity demand. Fix grouping to cut prodigal engendering capacity and intensification capacity utilization, TEPCO developed pumped storage hydroelectric power plants and promoted melting storage units. Tokyo Electric Power Company
Recently, TEPCO is expected to play a interpretation role grease achieving Japan ‘ s targets for reduced carbon dioxide emissions under the Kyoto Protocol. It also faces difficulties related to the trend towards deregulation in Japan ‘ s electric industry as well as low power demand growth. In light of these circumstances, TEPCO launched an extensive sales promotion campaign called ‘ Switch! ‘, promoting all – electric housing in order to both achieve the more efficient use of its generation capacity as well as erode the market share of gas companies.
- Capital stock: ¥676, 424, 197, 050
- Total outstanding shares: 1, 352, 876, 531
- Number of shareholders: 821, 841
- Electricity sales ( FY 2004 ): 92, 592 million kWh ( lighting ), 194, 148 million kWh ( power ), 286, 741 million kWh ( total )
- Peak demand: 64. 3 million kW ( July 24, 2001 )
- Number of customers ( ending March 31, 2005 ): 25, 120, 000 / 83. 89 million kW ( lighting ), 2, 630, 000 thousand / 39. 75 million kWh ( power ), 27, 740, 000 / 123. 64 million kW ( total )
- Revenue from electricity sales: ¥4, 637. 2 billion yen ( FY 2004 )
The Washington Post reported, that compared to American and European chief executives, Tepco chief, ” Shimizu earns a pittance. Tepco won’t give his salary, but total remuneration for the president and 20 other directors came to $8. 9 million in fiscal 2009, the last period for which figures are available, ” an average of $445, 000.
Tokyo Electric Po wer could face 2 trillion yen ( $23. 6 bln ) in special losses in the current business year to March 2012 to compensate communities near its crippled Fukushima nuclear plant, according to JP Morgan.
Japan plans to put TEPCO under effective state control so it can meet its compensation payments to people affected by radiation leaking from its Fukushima I plant. Tokyo will set aside several trillion yen in public funds that TEPCO can ” dip into if it runs short for payouts to people affected “.
Salary pay cuts
The company workers agreed to a management proposal to cut their pay as a sense of responsibility for the world ‘ s worst nuclear disaster Annual remuneration for board members will be reduced by 50 percent since April 2011, while payment for managers will be cut by 25 percent and workers by 20 percent both since July 2011 and bonuses since June 2011. The company expects to save about 54 billion yen ( $659 million ) a year from the pay cuts. Tokyo Electric Power Company
Source: Wikipedia.org and various sourcesGlobal News, Knowledge