Tokyo Electric Power Company, Incorporated (The) was established in 1951 and is Japan's largest electric power supplier. The company is based in the Tokyo metropolitan area and surrounding prefectures, operates one hundred and fifty seven hydroelectric power plants, twenty nine thermal power plants and three nuclear power plants and supplies electricity to about 23.2 million households and 2.8 million commercial and industrial customers. One of the world's largest electric utilities, TEPCO has a generating capacity of 57,800 MW, produced by fossil fuel (56%), nuclear (30%), and hydroelectric (14%) power sources. Seeking diversity in the face of a reduced monopoly status caused by deregulation, TEPCO is moving into communications. It owns a major stake in Tokyo Telecommunication Network (TTNet, local and long-distance phone service). TEPCO is in a telecommunications joint venture with nine other Japanese electric companies.