Tohoku Electric Power reports mixed first half results, eyes renewables and nuclear

Tohoku Electric Power Co., Inc. reported consolidated operating revenue of 1,168.9 billion yen for the first half of FY2025, a 10.9% decrease from the previous year. Ordinary profit fell 18.0% to 125.6 billion yen, with net income attributable to owners of parent also declining by 17.3% to 87.6 billion yen. The company attributes the revenue decline to factors such as reduced retail electricity sales and increased supply-demand adjustment costs, despite positive impacts from the restart of Onagawa Unit 2 and fuel cost adjustment time lag effects.

To counter these trends, Tohoku Electric Power is expanding its Corporate PPA services, securing over 100 orders totaling approximately 140 billion yen by September 2025, aiming to boost renewable energy output. The company forecasts full-year operating revenue of 2,450 billion yen and ordinary income of 190 billion yen for FY2025, maintaining its dividend forecast of 40 yen per share. Additionally, it is progressing with Hokkaido-Honshu and Tohoku-Tokyo interconnection lines to enhance grid stability and renewable energy integration.

Key strategic initiatives include revising the completion schedule for Onagawa Nuclear Power Station Unit 2's specialized safety facility to August 2028 and the onsite permanent DC power supply system to March 2028. Tohoku Electric Power is also forming business partnerships for agrivoltaics projects, promoting sustainable agriculture and seeking new income from carbon credits.