TOKYO: Japan’s trade ministry yesterday approved a revival plan for the utility responsible for the Fukushima nuclear disaster, Tokyo Electric Power Co, its second attempt at restoring its battered finances.
The plan hinges on Tokyo Electric (Tepco) restarting its Kashiwazaki Kariwa nuclear plant to cut fossil fuel costs, a contentious undertaking staunchly opposed by the local governor.
An earlier plan by Tepco outlining a revival after its Fukushima plant was hit by a massive earthquake and tsunami in 2011, triggering triple meltdowns at the site, had to be torn up because it could not restart Kashiwazaki.
“As for the restart of Kashiwazaki Kariwa ... this is simply an assumption built into the financial plan,” industry minister Toshimitsu Motegi said as he gave formal approval of the plan to Tepco President Naomi Hirose.
The previous revival plan revolved around a Kashiwazaki restart in early 2013. The new plan envisages a restart of two reactors at the station in July.
Motegi and Hirose said there may be a time lag between the plan’s assumption and any restarts.
The recovery of Fukushima prefecture, dealing with compensation for those who lost homes and businesses and decommissioning the damaged plant are national priorities, Motegi told Hirose.
“Tepco will throw all available resources at taking responsibility for Fukushima. We will compensate every last person and the company has many things to do in order for residents to return quickly,” Hirose said. Reuters
