Japan gives nod to Tepco, Chubu Electric merger

The consolidation of their thermal businesses will account for half of Japan's fossil-fuel capacity.

Tokyo Electric Power Co. Holdings and Chubu Electric Power finally got the approval to unite their fossil fuel power plants under JERA Co joint venture.

Japan Fair Trade Commission gave its nod as it determined that the alliance will not adversely affect the fair competition.

TEPCO and Chubu Electric had previosly agreed to combine their thermal power businesses between April to September 2019. The company that will be formed will manage 68GW of domestic power capacity--an amount that is almost half of the country's power generation.