network. In the 1960s and 1970s, the company faced the challenges of increased environmental pollution and oil shocks. TEPCO began addressing environmental concerns through expansion of its LNG fueled power plant network as well as greater reliance on nuclear power generation. The first nuclear unit at the Fukushima Dai-ichi (Fukushima I) nuclear power plant began operational generation on March 26, 1971. During the 1980s and 1990s, the widespread use of air-conditioners and IT/OA appliances resulted a gap between day and night electricity demand. In order to reduce surplus generation capacity and increase capacity utilization, TEPCO developed pumped storage hydroelectric power plants and promoted thermal storage units. Recently, TEPCO is expected to play a key role in achieving Japan's targets for reduced carbon dioxide emissions under the Kyoto Protocol. It also faces difficulties related to the trend towards deregulation in Japan's electric industry as well as low power demand growth. In light of these circumstances, TEPCO launched an extensive sales promotion campaign called 'Switch!', promoting all-electric housing in order to both achieve the more efficient use of its generation capacity as well as erode the market share of gas companies. Major subsidiaries As Tokyo Electric Power Company Holdings, Inc. is a holding company, there are several major wholly owned subsidiaries. TEPCO Power Grid - Responsible for managing power grid around Kantō region and transmits and distributes electricity between electricity wholesaler and retailer. TEPCO Energy Partner - Electricity retailer operating under "TEPCO" brand throughout Japan, except Okinawa. TEPCO Fuel & Power - Operates fossil fuel power stations mainly for TEPCO Energy Partner. Tokyo Electric Generation Company - Generates wholesale electricity for electricity market. Tokyo Electric Power Services Co. Ltd (TEPSCO) - Provides consulting services for electric power industry. Corporate overview Capital stock: ¥676,424,197,050 Total outstanding shares: 1,352,876,531 Number of shareholders: 821,841 Electricity sales (FY 2004): 92,592 million kWh (lighting), 194,148 million kWh (power), 286,741 million kWh (total) Peak demand: 64.3 million kW (July 24, 2001) Number of customers (ending March 31, 2005): 25,120,000 / 83.89 million kW (lighting), 2,630,000 thousand / 39.75 million kWh (power), 27,740,000 / 123.64 million kW (total) Revenue from electricity sales: ¥4,637.2 billion yen (FY 2004) Community compensation Tokyo Electric Power could face 2 trillion yen ($23.6 bln) in special losses in the current business year to March 2012 to compensate communities near its crippled Fukushima nuclear plant, according to JP Morgan. Japan plans to put TEPCO under