Risk of changes to the FIT scheme and energy policy
First written in FY2016. 11 of 18 entries say "Restated". Latest entry: FY2026.
Ef-On moved to the "Worse" side of this theme in 2017, 2 years before the typical company in this theme (2019).
The whole theme swung hardest in 2025: 5 of 14 companies on the "Worse" side.
3 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「E-FOUN Shirakawa Power Station voluntarily curtailed output during periods when an oversupply of solar power in the grid caused market prices to fall to nearly ¥0.」
Regarding the risks of fluctuations in renewable energy schemes and market prices, the company reports that the Shirakawa Power Station voluntarily curtailed output during periods when an oversupply of solar power caused market prices to fall to nearly ¥0. - FY2025ReframedAnnual report
「Because the FIP electricity sale price is determined based on a premium price that references trading prices on the Japan Electric Power Exchange, substantial fluctuations in those trading prices may cause the premium price to fluctuate and affect the performance of the company and its group.」
In addition to the risks associated with changes to FIT purchase terms and policy, the company explicitly identifies the risk that fluctuations in Japan Electric Power Exchange prices could affect the premium price and performance of the Shirakawa Power Station after its transition to FIP. - FY2023-Q3ReframedAnnual report
「During the current quarterly consolidated accounting period, our group's EF-ON Shirakawa power plant transitioned to the FIP scheme (Feed-in Premium). Performance under the FIP scheme during the period exceeded the projected revenue under the previous FIT scheme.」
Regarding exposure to renewable energy policy and purchase schemes, the Shirakawa Power Station transitioned from the FIT scheme to the FIP scheme, and actual results after the transition exceeded the revenue assumptions under the former FIT scheme. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company concludes that there have been no material changes in the risks associated with changes to the FIT scheme and energy policy. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company concludes that there have been no material changes in the risks associated with changes to the FIT scheme and energy policy. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company concludes that there have been no material changes in the risks associated with changes to the FIT scheme and energy policy. - FY2021-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company concludes that there have been no material changes in the risks associated with changes to the FIT scheme and energy policy. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company concludes that there have been no material changes in the risks associated with changes to the FIT scheme and energy policy. - FY2020-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company concludes that there have been no material changes in the risks associated with changes to the FIT scheme and energy policy. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company concludes that there have been no material changes in the risks associated with changes to the FIT scheme and energy policy. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company concludes that there have been no material changes in the risks associated with changes to the FIT scheme and energy policy. - FY2018RestatedAnnual report
「The procurement and purchase prices and other terms for electricity under FIT are reviewed annually by the Procurement Price Calculation Committee.」
The company continues to describe the risks of FIT purchase price revisions, divergence from planned prices for new power plants, and loss of eligibility for the scheme due to policy changes. - FY2018-Q3WorsenedAnnual report
「In the power generation business, FIT purchase prices for solar power have fallen further since fiscal 2018. In biomass power generation, the introduction of a bidding system was also approved for general woody biomass and other fuels with output of 10,000kW or more, as well as biomass liquid fuels, affecting the formulation of development plans by new entrants.」
In addition to a further decline in solar FIT purchase prices, the decision to introduce a bidding system for general woody biomass and other fuels with output of 10,000kW or more and for biomass liquid fuels has begun to affect new development plans. - FY2018-Q2WorsenedAnnual report
「In biomass power generation, the purchase price for the category of general woody biomass with an output of 20,000kW or more has declined, creating a difficult environment for developing large-scale woody biomass power generation projects using so-called imported wood chips.」
The company explains that lower purchase prices under the FIT scheme and other programs have made the development environment more challenging for general woody biomass projects with output of 20,000kW or more and large-scale projects using imported wood chips. - FY2017-Q3MaterialisedAnnual report
「Approximately 5 years after the original FIT Act was introduced, the amended FIT Act took effect in April 2017 to address problems and issues arising from the passage of time and changes in circumstances. This changed the certification system from equipment certification to business-plan certification and revised purchase prices, resulting in lower purchase prices for some types of generation, particularly solar power.」
The company reports that changes to the FIT scheme took effect, including changes to the certification system and reductions in some purchase prices. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company concludes that there have been no material changes in the risks associated with changes to the FIT scheme and energy policy. - FY2017-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company concludes that there have been no material changes in the risks associated with changes to the FIT scheme and energy policy. - FY2016First statedAnnual report
「The procurement and purchase prices and other terms for electricity under FIT are reviewed annually by the Procurement Price Calculation Committee.」
The Company cites the possibility that new power plants may diverge from planned prices depending on when their applicable terms are determined, and that existing plants may lose access to the scheme following a policy shift.