Nuclear Free Zone

As of today, Japan is meeting the needs of an advanced industrial nation without electricity generated by nuclear power.  With the shutdown of Kansai Electric Power Co.’s No. 4 reactor at the Oi power plant for a regular safety inspection, all 50 nuclear reactors in Japan are out of operation. The pro-nuclear Liberal Democratic Party led by Prime Minister Shinzo Abe says it will approve restarts of nuclear reactors that are deemed safe under new regulatory standards, but that path is obscured by utility companies having to obtain consent from municipalities that host nuclear plants. Despite record high temperatures this summer, no blackouts occurred, spurring utilities to twist their rationale for restarting nukes towards claiming that they will reduce the cost burden on consumers from greater use of thermal power plants.  Higher fuel costs brought about by the shift to thermal have led six power companies to boost rates.

TEPCO, Fukushima’s floundering operator, has raised the standard monthly charge for households by 30-percent from the level before the March 2011 meltdowns.  Since the disaster, the company has posted net losses of more than $27 billion.  Because TEPCO has been brought under state control, at least some of that red ink is now a potential bill to taxpayers (the total cost to taxpayers of cleanup and compensation is  currently estimated to be at least $810 billion).  The company’s ability to refinance outstanding debt and get new loans to cover the cost of Fukushima depends on being able to restart reactors it owns at another location. TEPCO owns three nuclear power plants–Fukushima No. 1 (6 reactors), known as Fukushima Dai-ichi, which suffered meltdowns in March 2011; Fukushima No. 2, called Fukushima Dai-ni, situated to the south of No. 1, whose 4 reactors were harrowingly brought to cold shutdown; and the Kashiwazaki-Kariwa plant on the Japan Sea coast, which has seven functional reactors and is the world’s largest.

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In a society long organized to depend on nuclear power, higher fuel costs caused eight of the country’s 10 utilities to record a total net loss of about $16 billion in fiscal 2012.  Naturally, they would like to return to business-as-usual, assuming they can make their customers, or taxpayers, pay for whatever it takes.

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