New players take a big chunk of Japan's retail power markets
Deregulation in the Japanese retail power market has allowed new suppliers to climb the ranks of providers. Since April 2016, when the market was liberalised, companies such as Tokyo Gas, Osaka Gas and JXTG Nippon Oil & Energy have taken up new electricity contracts. About 4.55 million users are understood to have switched to new providers by the end of July, which number about 230 as against the big four major utilities.

TOKYO -- New players are climbing the ranks in Japan's deregulated retail power market, collectively surpassing four out of 10 major utilities in household electricity sales.

Since the market's liberalization in April 2016, a swarm of newcomers entered the industry such as oil and gas companies and even telecom businesses. The new players began offering rates about 5% lower on average than major providers, helping them attract households, especially those with heavy power usage.