As the retail electricity market in Japan has been fully liberalized since April this year and legal unbundling of transmission and distribution is scheduled to be carried out from April 2020, the environment surrounding our group has been changed significantly. On the other hand, tight power supply/demand and severe financial situations due to
suspended operation of Shika Nuclear Power Station continue and our group will actively put effort into addressing various challenges to cope with such situations, in order to fulfill a social mission of "ensuring stable supply of low-cost and high-quality energy."
Then, through steady engagement of every one of us in such effort with keeping our group's CSR philosophy and code of conduct in mind, we aim to create "Hokuriku Electric Power Group that will serve as your trustworthy and chosen partner."
In order to stably deliver low-cost and high-quality energy to our customers and respond to expectations of local communities, shareholders, investors and vendors, early resumption of Shika Nuclear Power Station operation is essential.
As for the seams in the site of Shika Nuclear Power Station, we provide reasonable scientific explanation on our survey result at the place of review on conformity to the new regulatory standards and strive to take a steady step for operation resumption.
Also, as for safety improvement work at Shika Nuclear Power Station, we are now in the process of enhancing the content of the work for further safety improvement and we will proceed with the work safely and steadily.
And, we provide the people in the local communities with careful explanations in a thoughtful manner to gain their understanding for achievement of early resumption of operation.
Amid the availability factor of our hydroelectric and thermal power stations remains high due to the suspended operation of Shika Nuclear Power Station, we make our utmost efforts to stably deliver electric power by implementing every possible measure including rescheduling repair work, etc.
Moreover, for stable supply of electricity and further development of power sources using less carbon resources over the medium- and long-term, we proceed with construction work of LNG-fired Unit 1 of Toyama Shinko Thermal Power Station which is planned to start its operation in FY2018. Furthermore, in order to increase power production, we set a new goal to steadily accumulate our efforts such as refurbishment of the existing hydroelectric power facilities, etc.
On the other hand, replacement work for the facilities installed in the high-growth period of the Japanese economy will reach a peak. Accordingly, we use our efforts to level long-term replacement plans and to ensure our systems of human resources and work execution for maintaining proper functions of facilities and stable supply.
Under a competitive environment following the full liberalization of the retail electricity market, we continue to make every possible effort for improving managerial efficiency with considering safety as the first priority and for maintaining the current electricity rate level to the extent possible.
Also, we respond to customer needs more properly through new electricity rate tariff and enhancement of our services including "Hoku-link" membership service.
In addition, we use our management resources such as total services that combine electricity and LNG sale as far as possible, we conduct comprehensive energy business, including support for customers concerning optimum energy use.
Ever since Hokuriku Electric Power Company was established in May 1951 with the support from the Hokuriku region, our steadfast commitment to contribute to development of the local communities through electric power business runs deep in our corporate culture. We hope that we will continue to be a company that roots in the Hokuriku region, our basis of existence, and is trusted by our stakeholders.
We will strictly ensure compliance with laws and regulations and conduct fair transactions with putting highest priority on safety in every operation and effort. And, we will have interactive discussions with the people in the local communities and continuously carry out environmental preservation activities to gain the trust from our stakeholders.
Every one of our group employees carefully hear your voice and realize CSR management.