Latest news with #KansaiElectric
Yahoo
12-05-2025
- Business
- Yahoo
Iberdrola to sell UK smart metering division to Macquarie
Iberdrola has reached an agreement to divest its smart metering division SP Smart Meter Assets (SPSMAL) in the UK to Macquarie for around £900m (€1.07bn). The agreement is subject to the approval of the UK's competition authority and is expected to be finalised in the third quarter of 2025. SPSMAL currently manages 2.7 million meters throughout the UK. Macquarie is a major entity in the UK sector, overseeing more than ten million meters, including both smart and conventional meters. The company has contributed more than £1.5bn ($1.98bn) to facilitate the deployment of smart meters in Britain. As part of the Smart Meter Rollout Programme led by Ofgem, 38 million smart meters were installed in British households and small enterprises by the end of 2024. Iberdrola's choice to sell its smart metering assets is in line with its strategy of rotating non-core assets. The company has already exceeded €10bn in partnerships and divestments as detailed in its Strategic Plan for 2024/26. This transaction represents Iberdrola's second-largest divestment to date following the sale of combined cycle plants in Mexico in 2024. The company continues to prioritise growth acceleration and the promotion of economic electrification while maintaining financial robustness. In April this year, Iberdrola signed a strategic agreement with Japan's Kansai Electric to co-invest in the Windanker offshore wind farm. The project, valued at €1.28bn, is located in the Baltic Sea. The Spanish utility company holds a 51% stake in the assets. The wind farm, which is expected to come online in the final quarter of next year, will feature 21 turbines with a unit capacity of 15MW. "Iberdrola to sell UK smart metering division to Macquarie" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Japan Times
25-03-2025
- Business
- Japan Times
Fukui's governor allows three aging reactors to continue operations
Fukui Gov. Tatsuji Sugimoto on Monday effectively gave the green light for the continued operations of three aging nuclear reactors in the prefecture from next fiscal year. Sugimoto approved Kansai Electric Power's revised roadmap for shipping spent nuclear fuel from the No. 3 reactor at the Mihama nuclear plant and the No. 1 and No. 2 reactors at the Takahama plant. The plant operator had said it would halt reactor operations if it failed to gain the prefecture's understanding for the roadmap by the end of the current fiscal year, which ends this month. All three reactors have been in operation for more than 40 years. On Monday, the Fukui governor spoke with industry minister Yoji Muto online after meeting with Kansai Electric President Nozomu Mori at the prefectural office earlier in the day. Sugimoto urged Mori and Muto to steadily implement the roadmap and promote regional development in the municipalities where the nuclear reactors are located. "It is my duty to steadily transport (spent nuclear fuel) out (of the nuclear plants) and reduce the amount stored" at the plants, Mori said. "I will continue to do all I can." The Kansai Electric president also mentioned plans for a new framework to continue providing funds for regional development. "The government will also work on this with responsibility," Muto said. Sugimoto then expressed his support for the roadmap, saying it is "effective." Kansai Electric presented Fukui Prefecture with the revised roadmap on Feb. 13, after Japan Nuclear Fuel delayed the completion of a nuclear fuel reprocessing plant under construction in the village of Rokkasho, Aomori Prefecture. Under the roadmap, about 400 tons of spent fuel will be shipped to a French company for use in research, while 198 tons will be transported to the reprocessing plant, which is expected to be completed in fiscal 2026. The Fukui government heard the opinions of three towns hosting nuclear plants in the prefecture and the prefectural assembly before deciding to approve the roadmap. The mayors of the towns — Mihama, Oi and Takahama — expressed understanding for it, while the Liberal Democratic Party, the largest group in the assembly, left the decision to the governor. In the prefecture, however, there are persistent concerns that the roadmap could be derailed by another delay in the construction of the reprocessing plant, as its completion has been postponed 27 times so far.
Japan Times
09-02-2025
- Business
- Japan Times
Kansai Electric to ship more spent nuclear fuel to France
Fukui – Kansai Electric Power is working to double the amount of spent nuclear fuel it will ship to France, increasing it by about 200 tons, informed sources said. The move comes as Fukui Prefecture, home to several nuclear plants, urges Kansai Electric to address shrinking storage capacity for spent nuclear fuel, the sources said. In 2023, Kansai Electric announced a plan to ship about 200 tons of the fuel from its Takahama plant in Fukui to France starting in fiscal 2027. Based on the Japanese government's policy, the spent fuel will be used for research on technology to reprocess uranium-plutonium mixed oxide, or MOX, fuel. At the Takahama plant, about 90% of the spent fuel storage capacity has already been used, and that amount is expected to reach the upper limit in about three years. About 200 tons of spent fuel will be generated if the No. 1 to No. 4 reactors at the plant are operated for about three years. Kansai Electric has restarted all of its seven nuclear reactors. The company initially planned to send spent fuel mainly to a reprocessing plant to be built in Aomori Prefecture, but the completion of the facility has been postponed. Last September, the company notified Fukui Gov. Tatsuji Sugimoto of its intention to review the plan, and said that it would halt three reactors in the prefecture if it fails to come up with a proposal that can win the understanding of officials there by the end of fiscal 2024.
Reuters
31-01-2025
- Business
- Reuters
Japan's Kansai Elec ups FY profit forecast on nuclear power, demand
TOKYO, Jan 31 (Reuters) - Kansai Electric Power Co (9503.T), opens new tab, Japan's top nuclear power operator, raised its profit forecast for the fiscal year ending in March by 40% to 365 billion yen ($2.4 billion) on higher nuclear power runs and stronger earnings at its transmission and distribution business. Kansai Electric had five nuclear reactors online with a combined capacity of 4.6 gigawatts as of end-December. On Friday, the company raised its nuclear capacity factor forecast - an indicator of its nuclear power load - to 85% from the previously expected 80%. Kansai Electric now expects profit from its transmission and distribution business to rise by 73 billion yen from the previous forecast. The company is also targeting higher electricity and gas sales thanks to a higher demand forecast for the Kansai area - Japan's second busiest region - after the Tokyo Metropolitan area - which includes the cities of Osaka, Kyoto and Kobe. For the nine-month period ended in December, Kansai Electric posted a 3% year-on-year increase in net profit to 362 billion yen, also driven by increased nuclear power operations and as it booked a 63 billion yen gain from the sale of a 28% stake in UK power distribution company Electricity North West. The results from Kansai Electric, which kept a 12% stake in Electricity North West after the deal, contrast to those from major Japanese power sales companies. Profits at JERA, the country's biggest utility, halved to 155 billion yen in April-December amid a weaker performance in overseas power generation, fuel and renewable energy businesses, including in Taiwan. Tokyo Gas (9531.T), opens new tab, Japan's biggest city gas provider, saw profit for the period drop 68% to 36.6 billion yen amid rising raw material costs. It revised guidance for full-year profit to 72 billion yen from earlier expected 81 billion yen. JERA kept its profit forecast for the full fiscal year at 200 billion yen. ($1 = 154.6000 yen)
