Westward Group Tokyo Energy News Japanís energy footprint
Posted in the Business News Forum
Since: Dec 13
#1 Apr 22, 2014
Japanís energy footprint in a post-Fukushima landscape
Since the earthquake and subsequent tsunami that caused the catastrophic meltdown of the Fukushima Daiichi nuclear power plant in March 2011, Japanís nuclear energy capacity has faced an uncertain future. The government has faced a significant cleaning up operation in the wake of the worst nuclear accident since Chernobyl. But their troubles do not stop there, as the costs of shutting down Japanís 48 reactor plants for safety checks and inspections begin to mount up. Japan has been nuclear-free since September 2013.
The operators of these idled plants have been forced to spend approximately $87bn on burning fossil fuels to make up for the energy shortfall, driving costs higher. As a result, they have seen $60bn wiped from their combined stock values, and the nine publicly traded nuclear operators together lost an estimated sum in the region of $50billion in the two business years since Fukushima. The ramifications of these gargantuan losses have been keenly felt. Kyushu Electric Power Co has sought a $1bn bailout from the government, alongside Hokkaido Electric Power Co which is also seeking financial backing to get them out of their difficulties.
Nuclear power however remains unpopular with the general public after the disaster at the Fukushima plant, and the struggles of Tokyo Electric Power Co in trying to deal with it. 69% of respondents to a poll in the Tokyo Shimbun said they felt that nuclear power should be entirely phased out and an Asahi newspaper poll last month found that nearly 80 percent of those surveyed supported a gradual exit from atomic power.
Read full article at http://www.businesstimes.com.sg/specials/cfds... ís-energy-footprint-post-fukus hima-landscape-20140416
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