TEPCO Wants To Restart Nuclear Plant
Channel: onthewaytoextinction
Date: 2013-07-03

http://www3.nhk.or.jp/nhkworld/

TEPCO TO APPLY FOR KASHIWAZAKI PLANT RESTART

Tokyo Electric Power Company will seek government permission to restart 2 reactors at its Kashiwazaki Kariwa nuclear plant on the Sea of Japan coast in Niigata Prefecture.

 To resume operation, nuclear power plants in Japan must meet new safety standards that go into effect on Monday next week.

 On Tuesday, TEPCO's board of directors decided to apply for government screening of the No. 6 and No. 7 reactors at the Kashiwazaki plant as soon as the new guidelines take effect.

 The utility raised electricity fees last year to cover the growing cost of fuel for its thermal power plants, following the shutdown of nuclear plants across the country. But it continues to struggles with a huge deficit.

 The utility hopes to move into the black this business year by restarting the reactors as early as possible.

 But resumption of operation would also require local government approval.

 Niigata Governor Hirohiko Izumida has repeatedly said there can be no discussion about restarting Kashiwazaki until the 2011 accident at Fukushima Daiichi nuclear plant is fully investigated.

 TEPCO has idled all of its 17 reactors due to regular inspections, accident cover-up scandals or other reasons.

 TEPCO is hoping to return to the black by restarting the huge nuclear plant in central Japan.

 The utility logged about 6.8 billion dollars in losses for the year through March, its 3rd consecutive year in the red. That's despite hiking electricity rates last year.

 All its nuclear reactors are offline in the aftermath of the Fukushima Daiichi accident in 2011.

 TEPCO says the key to its turnaround plan is the phased restart of 4 of 7 reactors at the Kashiwazaki Kariwa plant.
 The utility intends to return to profitability by March 2014.

 The plant can generate a total of more than 820 megawatts in power, the largest in the world.

 TEPCO says restarting just one reactor would save about 10 million dollars a month on oil and gas costs. The utility stresses it has received public funds and bank loans on condition that it aims at fiscal turnaround by next March.

Jul. 2, 2013 - Updated 09:49 UTC

GOVT. APPROVES MORE FUNDS FOR TEPCO COMPENSATION

The Japanese government has approved additional assistance of more than 660 billion yen, or about 6.6 billion dollars, for compensation stemming from the 2011 Fukushima Daiichi nuclear power plant disaster.

 The plant's operator, Tokyo Electric Power Company, and the government-funded Nuclear Damage Liability Facilitation Fund asked the government to provide the additional funds. The utility's officials say the compensation costs are higher than expected as confirmation of the damage proceeds.

 Industry minister Toshimitsu Motegi told TEPCO President Naomi Hirose on Tuesday that the government had approved the request.

 Motegi said he hopes the utility will make fine-tuned responses in handling compensation and reconstruction support for Fukushima by listening to the opinions of affected residents and strengthening cooperation with the government's policies.

 The additional funds bring the total amount of taxpayers' money provided to TEPCO to about 38-billion dollars. This sum is expected to increase when the demands for the cost of decontamination start to rise.

 Hirose told reporters that his firm will pay compensation to help promote local economic revitalization.
 He said TEPCO will work closely with local and national governments.

Jun. 25, 2013 - Updated 12:44 UTC

BILL TO REVISE ELECTRICITY BUSINESS SCRAPPED

Legislation designed to reform Japan's electricity supply system, failed to receive a vote in the Upper House on Wednesday, before the end of the Diet session.

 The bill was designed to separate power generation and transmission sections of power companies. It aimed to change the current system following the 2011 earthquake. Tokyo Electric Power Company experienced rolling blackouts that inconvenienced industries and people's daily lives.

 The new legislation would fully liberalize electricity retailing within three years, allowing both companies and private homes to freely choose power suppliers.

 The bill also called for the separation of power generation and transmission businesses in about five to seven years time.

 The ruling Liberal Democratic and New Komeito parties, together with the opposition Democratic Party, had agreed to enact the bill during the Diet session.

 The bill was approved by the Lower House plenary session on June 13th and was sent to the Upper House.

 However, on Wednesday the Upper House passed a censure motion against Prime Minister Shinzo Abe, and the Diet was adjourned before the bill in question was deliberated for vote taking in the Upper House.

 The bill has thus been scrapped this time, but the government plans to submit it again to the extraordinary Diet session later this year.

Jun. 26, 2013 - Updated 12:44 UTC