Japan’s cabinet approved an energy plan that includes reinstating nuclear power in the country, but the industry has already reported billions of dollars in losses.
The plan defines nuclear as an “important baseload power source,” essentially ending plans to phase-out nuclear in the country. However, the policy did not specify the share of nuclear in the energy mix, according to Reuters, and it also said coal and hydropower are baseload sources.
All 48 nuclear reactors were shut down after the March 2011 disaster at the Fukushima Daiichi nuclear power plant. The plants must undergo strict safety checks in order to restart. The Nuclear Regulation Authority in March put two reactors at Kyushu Electric Power Co.’s Sendai nuclear power plant on the fast track for priority screening.
Since the shutdowns, plant operators have reported losses of almost $50 billion, with an additional $90 billion spent on replacement fuels and $16 billion on nuclear plant upgrades to meet the new safety guidelines, Reuters said. Two operators, Hokkaido Electric Power and Kyushu Electric Power, have asked the government for financial support.
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