Chubu Electric Power Co. and Osaka Gas Co. are considering joining forces to enter the retail energy market in the Tokyo metropolitan area. by Jiji Press – By jointly tackling the huge market with high demand, the utilities hope to survive intensifying competition in the electricity and gas retail sectors, following full liberalization, informed sources said.
The possible tie-up between the major power and city gas companies could accelerate reorganization in the energy industry. Chubu Electric, based in Nagoya, central Japan, and Osaka Gas, based in Osaka, currently collaborate in areas such as liquefied natural gas procurement.
The companies are studying the possibility of setting up a new firm and also exploring partnerships with companies outside the energy sector, aiming to offer value-added services to customers, the sources said.
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