nuclear-news

Nuclear power industry lost $46 billion – and that’s its good news

Utilities lose $46 billion as nuclear era nears end, Japan Times, 14 Aug 12, Shareholders at risk amid efforts to break up power monopolies Bloomberg The nuclear power industry has lost a record $46 billion since the earthquake and tsunami disasters led to three meltdowns at the Fukushima No. 1 power plant last year, wiping out seven years of profit.

Then came the bad news.

Under a July 13 announcement that helped cut ¥1.3 trillion in market
value in three weeks at the nine utility companies — from Tohoku
Electric Power Co. to Kansai Electric Power Co. — the government is
preparing to force regional monopolies to spin off transmission assets
from generation. ….
A regular Friday rally has besieged the residence of Prime Minister
Yoshihiko Noda. Noda and his government have become a target after he
approved the restart of two reactors closed for safety checks
following the Fukushima disaster.

Kansai Electric, the nation’s second-largest power company by
generating capacity, fell 6 percent to ¥553, the lowest at least since
September 1974, on Aug. 1 on the Tokyo Stock Exchange. Similarly,
shares of seven other regional utilities sank to the lowest levels in
decades during the week to July 29…..
Another factor that drove down the power companies’ share prices was
rising concerns about the safety of nuclear power, said Shioda.

Quake and tsunami experts at a July 17 hearing held by the
government’s Nuclear and Industrial Safety Agency suggested fractured
zones under sites of Kansai Electric’s Oi plant and Hokuriku Electric
Power Co.’s Shika station may be active fault lines. If an active
fault is confirmed, the plant operators may be forced to decommission
reactors that are standing on the zone.
http://www.japantimes.co.jp/text/nb20120814n1.html

August 14, 2012 - Posted by Christina Macpherson | business and costs, Japan