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Fukushima nuclear disaster aftermath cost now estimated at Y70 tril (626 billion dollars)

TOKYO — Apr. 02, 2017

The total cost to deal with the Fukushima Daiichi nuclear plant disaster has been estimated at 70 trillion yen ($626 billion), over three times more than the government calculation, a study by a private think tank showed Saturday.

The Japan Center for Economic Research said total costs at the Fukushima nuclear complex operated by Tokyo Electric Power Company Holdings Inc could rise to between 50 trillion and 70 trillion yen. It compares with the roughly 22 trillion yen a government panel estimated in December.

“If costs rise, the public burden could greatly increase. The country’s nuclear policy needs to be reviewed,” the JCER said.

Initially in the wake of the Fukushima disaster, the government expected the costs to total 11 trillion.

But a study by the Ministry of Economy, Trade and Industry showed the figure could be double the sum estimated in 2013.

Following that, the government decided to raise electricity rates to secure the money necessary to cover compensation payments, increasing the national burden.

Among the costs, the bill for compensation has been estimated at 8 trillion yen by the ministry. The JCER also adopted the figure.

The JCER, however, estimated costs for decontamination work at 30 trillion yen, compared with the government’s figure of 6 trillion yen, after the think tank made a calculation under a presumption that radioactive substances are disposed of at a facility in Rokkasho village in Aomori Prefecture.

The government is seeking a way to treat waste in Fukushima Prefecture, including radioactive soil, of which the amount could add up to roughly 22 million cubic meters, but where and how it will be disposed of has yet to be decided. Costs related to the procedure are not included in the government’s calculation.

Costs for decommissioning crippled reactors, which is expected to take 30 to 40 years, were estimated by the center at 11 trillion yen, compared with the government’s 8 trillion yen.

Expenses to treat contaminated water that remains in tanks at the plant were estimated by the center at 20 trillion yen unless the toxic water is released in the ocean after being diluted as nuclear regulation authorities recommend.

April 2, 2017 - Posted by | Uncategorized

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