Nissan Has License to Sell Electricity in Japan’s Wholesale Power Market image

Nissan received the license to buy and sell electricity in Japan’s wholesale power market.

According to the Japan Electric Power Exchange’s website, Nissan Motor received the license to buy and sell electricity in Japan. Other non-energy companies entering the wholesale power market in Japan are Fujifilm Holdings and Nippon Paper Group. As many nuclear plants have been closed after the 2011 Fukushima disaster, the electricity prices have increased considerably.

Tokyo Electric Power, which is the electricity supplier for the biggest industrial area in Japan, has increased corporate electricity rates by 15% from April 2012, while Kansai Electric Power and Kyushu Electric Power said they also plan to increase rates for companies by 17% and 12% beginning with May 1st.

Toyota Turbine & Systems Inc., Toyota Motor’s unit, might also join the companies selling electricity, as it submitted yesterday a registration form to the trade and industry ministry asking approval to begin retail power distribution, according to Shohei Kanasugi, an official at the ministry’s electricity market division.

According to a report published in the Yomiuri newspaper, Toyota Turbine aims at purchasing thousands of kilowatts of electricity from other companies’ factories or traded at the wholesale market, and then offer the electricity to its retail shops.