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Monks to start electricity retail business in Japan

Staff Writer | October 30, 2018
A company in Kyoto launched by Buddhist monks will begin selling electricity in western Japan in April next year as part of efforts to combat global warming.
TERA Energy
Asia   TERA Energy aims to sell electricity generated only from renewable sources
In cooperation with Miyama Power HD in Fukuoka Prefecture, TERA Energy aims to sell electricity generated only from renewable sources, including utilizing photovoltaic solar panels and small hydropower generation.

Initially, however, the company will sell power generated from traditional, non-renewable sources.

While the business will focus on the Chugoku and Shikoku regions first, the company is expected to expand its service across the country in fiscal 2020.

Part of the utility charges will be used for activities in support of local communities as well as for the management of temples.

Electricity rates will be set around 2 percent lower than rates of Chugoku Electric Power Co, and by taking advantage of the temple network, the company aims to sign contracts with 5,000 households in the first year.

"I hope it will provide an opportunity for temples and the regions to think about the community," Ryogo Takemoto, president of TERA Energy and chief priest of a temple, said at a press conference in Kyoto.