TEPCO and Chubu Electric Power formed JERA for $13.24bn.

TEPCO, an electric utility holding company, and Chubu Electric Power, a company that engages in the supply of electricity, gas, and on-site energy, formed JERA focuses on the development of new energy upstream investments, for $13.24bn. "This integration effect will enable JERA to grow into a global energy company that can compete on an equal footing with rivals in the international energy market. In addition to delivering a stable supply of globally competitive energy in the form of electricity and gas, etc., we aim to improve the corporate value of both the TEPCO and Chubu Electric Power groups," Chubu Electric Power statement.