News Releases 2011

TOKYO, Japan - December 16, 2011 - ORIX Electric Power, a subsidiary of ORIX Corporation, will expand the scope of its bulk electric purchasing service for reducing condominium electricity rates to condominium buildings without electrical rooms.

As part of the bulk electric purchasing service, ORIX Electric Power purchases high-voltage electric power from power companies in bulk at lower rates than what a standard household would be charged when entering into a contract with a power company individually. The high-voltage power is then redistributed as low-voltage power to customers residing in condominiums. This service results in lower charges for customers on their utility bills.

Previously, the bulk electric purchasing service was available only to condominium buildings that have an electrical room fitted with substation equipment. The service was not available to small condominium buildings with less than 80 units that do not have an electrical room, mainly due to the difficulty of securing the space needed to install the substation equipment.

However, ORIX Electric Power has now expanded the service to small condominiums without electrical rooms using substation equipment that can be installed in outdoor cubicles. The installation of such cubicles entails higher equipment costs than substation equipment installed in electrical rooms. Nevertheless, ORIX Electric Power has chosen to use the cubicles, which are versatile and compact, to make the service available to smaller condominium buildings.

 

These measures will make this service easier to adopt by condominium developers because they will not need to secure space for an electrical room when introducing the service. For condominium developers, electrical rooms reduce the marketable space of a condominium project, particularly in small condominium buildings.

ORIX Electric Power plans to first introduce this service at Lions Fujimino Mark Residence (Fujimino City, Saitama Prefecture; total number of units: 61), a newly built condominium building where DAIKYO INCORPORATED will commence sales of condominium units this month.

Looking ahead, in addition to reducing electricity rates through this service, ORIX Electric Power will provide a service that simultaneously cuts costs and conserves energy by combining a solar power system with the bulk electric purchasing service. In this manner, ORIX Electric Power will continue to provide high value-added services going forward.

■ORIX Electric Power website (In Japanese)
http://www.orix.co.jp/oep/index.htm

■Lions Fujimino Mark Residence condominium property website (In Japanese)
http://lions-mansion.jp/MS101050/top.html

About ORIX
ORIX Corporation (TSE: 8591; NYSE: IX) is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. With operations in 27 countries and regions worldwide, ORIX’s activities include corporate financial services, such as leases and loans, as well as automobile operations, rental operations, real estate, life insurance, banking and loan servicing. For more details, please visit our website at:  http://www.orix.co.jp/grp/en/