Nagano1

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TEPCO’s Thermal Power Generation
Yuichi Nagano
Washington Office
Tokyo Electric Power Company
2010 Energy Buyers’ Conference
Miami Beach Florida
@2010 The Tokyo Electric Power Company, INC. All Rights Reserved.
Japan’s Electric Power Companies
 System
Tokyo Electric
Power Company
Peak Load
- 183 GW (2001)
 Total Demand
- 859 TWh (2009)
@2010 The Tokyo Electric Power Company, INC. All Rights Reserved.
@2005
Tokyo Electric Power Company (1)
 29
Million Customers
 38 Thousand Employees
 $53 Billion Revenue
 $149 Billion Gross Asset
(Exchange rate 85 yen/dollar)
@2010 The Tokyo Electric Power Company, INC. All Rights Reserved.
@2005
Tokyo Electric Power Company (2)
Historical System Peak Load (2001)
 Electricity Generation(2009)


Installed Capacity
64,487 MW
304 TWh
Nuclear
LNG
Hydro
Oil
Coal
Total
@2010 The Tokyo Electric Power Company, INC. All Rights Reserved.
@2005
18 GW
26 GW
15 GW
12 GW
5 GW
78 GW
@2010 The Tokyo Electric Power Company, INC. All Rights Reserved.
Tepco’s Major Oil-Fired Power Plants
Name of power
plant
Location
Type of fuel
Oil-fired
Total
( year of operation
commencement )
[ 1 ] Hirono
MW capacity
( 1980 )
Fukushima
Prefecture
3,200
3,800
Crude & Fuel oil
( Coal )
4,400
4,400
Crude & Fuel oil
( 1971 )
Ibaraki
Prefecture
1,050
1,050
Crude oil
( 1971 )
Tokyo
Metropolis
( 1967 )
Chiba
Prefecture
1,200
3,600
Crude & Fuel oil
( LNG / LPG )
---
9,850
---
[ 2 ] Kashima
[ 3 ] Ooi
[ 4 ] Anegasaki
TOTAL
FY2009
Oil consumption
( Unit : 1000 kl )
1,451
1,776
505
143
4,408
( 532 consumed at mothballed
Yokosuka Power Plant inclusive )
Tepco’s Power Generation Portfolio ( FY 2009 )
Oil
Natural gas
Coal
Nuclear
Hydro
Others
Capacity (kW)
15 %
34 %
6%
23 %
19 %
3%
Output (kWh )
9%
45 %
11 %
28 %
5%
2%
@2010 The Tokyo Electric Power Company, INC. All Rights Reserved.
Annual Oil Consumption in TEPCO’s
Major Power Plants ( FY1991 - 2009 )
12,541
12,067
fuel oil
crude oil
11,651
12,000
9,988
9,782
9,664
10,000
9,065
8,625
7,211
8,000
6,298
7,426
7,427
6,883
5,754
7,051
6,289
6,029
5,556
6,000
5,366
4,867
4,822
4,369
3,843
4,000
3,627
2,824
2,792
5,330
2,000
5,839
5,077
4,130
4,044
4,074
4,123
1,955
2,672
4,641
6,792
6,588
2,854
3,046
5,353
2,542
4,028
2,745
3,509
2,753
3,825
2,405
2,560
2,977
3,196
2,596
2,166
2,030
1,672
1,190
1,323
0
1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
@2010 The Tokyo Electric Power Company, INC. All Rights Reserved.
Key Sources of Oil Supply
Crude oil
Indonesia ( Sumatran Light : Minas, Cinta, Widuri etc. ), Australia ( Wandoo, Stag ),
Vietnam, etc.
Low sulfur content ( 0.1 – 0.15 % ) required to meet strict environmental regulations.
Consequently, Southeast Asian and Australian crude oils as key sources.
Fuel oil
Mainly domestic product refined at Japanese refinery.
LSFO and LSWR imported as complementary from Indonesia and Singapore etc.
Key specification is low sulfur content.
Domestic product : 0.1 – 0.3 %, Imported LSWR : 0.2 – 0.3%
Representative Specifications
Crude oil ( Sumatran Light )
Fuel oil ( S 0.1% )
Max 0.1
Max 0.1
0.83 – 0.87
Max 1.000
5 – 20
2 – 43
Calorific value ( kJ/kg )
--
Min 42,700
Flash point ( degrees Celsius )
--
Min 70
Pour point ( degrees Celsius )
Max 40
Max 50
Carbon residue ( wt. %)
--
Max 10
Ash content ( wt. %)
--
Max 0.1
Water content ( Vol. % )
Max 0.5
Max 0.5
Bottom sediments & water ( Vol. % )
Max 0.3
--
Sulfur content ( wt. % )
Density ( g/cm3)
Viscosity ( mm2/s )
@2010 The Tokyo Electric Power Company, INC. All Rights Reserved.
TEPCO’s Oil Logistics
@2010 The Tokyo Electric Power Company, INC. All Rights Reserved.
Modality of Tepco’s Oil Purchase
Term / Spot




Delivery Mode


Primarily one-year term contract
Term : Spot = 95 : 5 ( FY2009 )
20% : FOB coastal tanker
- Affiliated company’s dedicated coastal tankers utilized for FOB delivery.
40% : CIF coastal tanker
30% : C&F ocean tanker
- Stored at Tepco’s lease-tanks at oil terminals, and
- Affiliated company’s dedicated coastal tankers utilized for re-delivery.
10% : Ex-pipe
Cost & Margin-based price reflecting FOB oil price, freight, refining cost, tax & duties,
etc.
 FOB oil prices indexed to OSP or public quotation ( e.g., Platt’s )

Pricing

Payment

Yen-based payment for oil purchase ( cf. US$-based for LNG and coal )
Provisional payment made at the end of next month of delivery, and
Price adjustments made after final price agreement.
@2010 The Tokyo Electric Power Company, INC. All Rights Reserved.
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