Tokyo Electric Power Co. will postpone the introduction of new power facilities by three to five years in the face of slow growth in domestic power demand, the company said Thursday.
The changes to the electric power supply plan are likely to mean the suspension of work at about 27 projects at 12 power plants nationwide, including nuclear plants, Tepco said. Some of the projects might be put on hold for more than five years.
The plan will be officially announced at the end of March, the company added.
Two liquefied natural gas power stations in Tokyo and Chiba Prefecture, to be completed as early as this summer, will start operating as initially planned, however.
The latest decision by Tepco could prompt other power companies to review their investment projects and affect the industry's overall plan to build 13 new nuclear power reactors by 2010, industry sources said.
The power industry has said it will promote the construction of nuclear power stations to help reduce emissions of carbon dioxide from conventional coal-fired thermal power stations.
Tepco also said it will reduce average annual capital investment to below 1 trillion yen from fiscal 2001 to fiscal 2003. Tepco plans to spend 1.08 trillion yen for fiscal 2000 through March 31.
Capital investment by Tepco will slip below the 1 trillion yen mark for the first time since fiscal 1979.