nuclear-news

Japan: taxpayers to take on nuclear costs, companies to keep profits?

Fukushima exposes contradictions / Nuclear crisis prompts govt to rethink private companies’ operation of N-plants Hiroshi Ikematsu / Yomiuri Shimbun, 7 Jan 12
The government’s moves to overhaul the state’s nuclear policy were prompted by serious contradictions discovered in that policy, as a result of the nuclear crisis at the Fukushima No. 1 nuclear power plant.

Although the Law on Compensation for Nuclear Damage stipulates that electric companies have unlimited liability in the case of accidents, the government had no choice but to support Tokyo Electric Power Co.’s efforts to pay compensation for damage caused by the Fukushima crisis. Therefore, the government plans to overhaul the law, including a review of utilities’ unlimited liability.

If it does so, however, entrusting utility companies with the operation of cost-efficient nuclear power plants, the companies may just siphon off profits and push the risk of accidents onto the
state…….    http://www.yomiuri.co.jp/dy/national/T120106005620.htm

January 7, 2012 - Posted by Christina Macpherson | business and costs, Japan