The TEPCO of Tomorrow
TEPCO is undergoing a transformation from a utility into an innovative global energy and technology company.
This reinvention highlights the new management reform based on our "Revised Comprehensive Special Business Plan" to fulfill our responsibilities to Fukushima, and to adapt to the changing environment that is disrupting the energy industry.
Our mission can be summarized in five goals:
- Accomplishing the Fukushima Project as our highest priority
- Creating a transparent organization to regain trust
- Improving individual capabilities to drive business forward
- Shaping the future of energy
- Creating profitability through employee development
We will secure 500 billion yen annually for compensation and decommissioning in Fukushima while increasing corporate value by creating 450 billion yen in profit over the next decade. This will be accomplished through streamlining businesses and cost reduction, reorganization and integration of nuclear power and distribution, and forming alliances with partners.
JERA, our joint venture with Chubu Electric, is an example of utilizing resources from existing businesses to create new revenue. We engineered a value chain from fuel upstream to thermal generation and bundling the sale of electricity and natural gas. It is unrivaled in the international energy market.
We also have high hopes for the promise of renewable energy, which we expect will grow to become a comparable revenue stream in the future based on global investment projections over the next decade.
The focus on the future will not come at the expense of obligations to the past, though. We are responsible for the Fukushima nuclear accident. Regaining the trust of society and local communities is why TEPCO aims to cultivate the world's No. 1 safety culture and take on challenges for the future. We have a long way to go, but we will make our utmost and concerted efforts as a Group with "The Energy for Every Challenge".
Representative Executive Officer and President
Tokyo Electric Power Company Holdings, Inc.
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