Electricity Retailer Formed by Monks Supplies Power With 70%+ Renewable Energy Ratio
Tera Energy (Kyoto City), an electricity retailer established by Buddhist monks from various sects, started to supply electricity to temples, restaurants and residential houses in the service area of The Chugoku Electric Power Co Inc June 3, 2019.
Tera Energy supplies electricity with a renewable energy ratio of 70% or higher. As power sources, the company uses "FIT biomass" (25.8%) and "FIT wind power" (23.1%), which use the feed-in tariff (FIT) scheme, as well as "wind power" (17.7%), which does not use the FIT scheme, "FIT hydroelectric power" (4.7%), "FIT solar power" (4.5%), etc. Tera Energy procures electricity from Minna-denryoku Inc (Setagaya-ku, Tokyo).
Tera Energy created a highly-transparent fee structure by simplifying a method to calculate electricity charges. A monthly electricity charge is calculated by adding a handling fee to the cost (which is calculated in accordance with the market price of Japan Electric Power Exchange), multiplying it by the amount of power used and adding a transmission fee (to be paid to a general power transmission/distribution company) to it.
Also, part of the monthly electricity charge is donated to temples as "Temple/Community Support Cost." A specific management method will be discussed in the community of each temple, and the money will be used for the activities of communities and temples in the aim of solving social issues such as suicide, social withdrawal, economic disparity, declining birth rate and aging population, depopulation and overpopulation.