Tokyu Power Supply's 10th Anniversary of Full Liberalization of Electricity Retail: Looking Ahead to the Next Decade, Challenging Both Decarbonization and Resilience Through Social Implementation of Renewable Energy and Storage Batteries

Upon reaching the 10th anniversary of the full liberalization of electricity retail, I would like to offer a greeting from my new position as president.

Tokyu Power Supply, which launched its "Tokyu Denki" service simultaneously with the full liberalization of electricity retail on April 1, 2016, celebrates its 10th anniversary today. On this milestone, I would like to express my sincere gratitude to our customers, business partners, local communities, and all stakeholders who have supported us thus far.

Over these past 10 years, the energy environment has undergone significant changes. In addition to the progress of liberalization, the global trend towards realizing a decarbonized society has accelerated further. Currently, uncertainties in international affairs, including the situation in Iran, are significantly impacting fuel prices and the stable supply of energy. In such times, energy providers are recognized as having a role not just to supply electricity, but to build sustainable and resilient systems as a foundation supporting society and daily life.

Under the corporate slogan "New life experiences, with energy," as an energy service provider of the Tokyu Group, we have developed services tailored to our customers' lives, primarily along the Tokyu railway lines. In addition to providing electricity and gas for households, we have accumulated initiatives that create new value for life and cities, starting with energy. These include expanding the utilization of renewable energy, supporting corporate customers in introducing renewable energy through corporate PPAs, and implementing measures to encourage peak shifting of electricity demand and behavioral changes.

Looking ahead to the next 10 years, our company will further focus on creating mechanisms for the effective utilization of renewable energy. Towards achieving the Tokyu Group's 2050 carbon neutrality goal, it is crucial to maximize the value of renewable energy not just by "introducing" it, but also by "storing" and "optimally using" it.

At the core of this will be large-scale grid-connected storage batteries and distributed residential storage batteries. While renewable energy is indispensable for decarbonization, its generation output is susceptible to weather conditions. Our company will actively work on stabilizing electricity supply and demand through the use of grid-connected storage batteries, as well as the social implementation of residential storage batteries and their aggregated control system for integrated charge/discharge management. This aims to achieve both the widespread adoption of renewable energy and enhanced urban resilience.

These are expected to be not only a safeguard for peace of mind during emergencies but also an important social infrastructure for using energy more wisely and efficiently during normal times.

The 10th anniversary is a milestone to reflect on our journey so far, and also a starting point for new challenges. Our company will continue to work with various stakeholders to solve social issues and create new value, striving to realize a future where decarbonization and a comfortable, secure life coexist.

We kindly ask for your continued support.

Tokyu Power Supply Co., Ltd. President and Representative Director Hidekazu Miyoshi

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Tokyu Power Supply Co., Ltd.

Representative: Hidekazu Miyoshi, President and Representative Director Location: Setagaya Business Square Tower, 4-10-1 Yoga, Setagaya-ku, Tokyo Established: October 2015 Business Activities: Electricity retail, gas brokerage Electricity Retailer Registration Number: A0069 Capital: 100 million yen [Tokyu Corporation: 66.7%, Tohoku Electric Power Co., Inc.: 33.3%] URL: https://www.tokyu-ps.co.jp/ Service Start Dates: Electricity Retail Service: April 1, 2016 Gas Retail Service: October 1, 2018 Target Customers: Primarily general households Service Areas: Electricity: Metropolitan area, Hokkaido, Chubu region *Excluding remote islands Gas: Tokyo Gas transmission service area Keywords: Tokyu Power Supply, Tokyu Denki & Gas, Electricity Liberalization, 10th Anniversary, Decarbonization, Resilience