Categories:
Energy
/
General Market Commentary
Topics:
General Energy
/
General Market Commentary
Japan’s TEPCO Could Restart Reactors Quicker than Expected
Tokyo Electric Power Company Holdings (TSE:9501) may be a step closer to restarting its Kashiwazaki-Kariwa nuclear power plant.
According to Reuters, shares of the company rose over 4 percent on the news that Ryuichi Yoneyama, governor of Japan’s Niigata prefecture, where the plant is located, could be set to resign.
Yoneyama, who has opposed restarts at the plant, said Tuesday (April 17) to a Japanese broadcaster that he is considering resigning, but has not yet decided. He said his potential resignation is due to a “woman problem,” but did not elaborate.
Prior to Yoneyama’s statement, numerous media outlets had reported that he was set to resign.
The Kashiwazaki-Kariwa plant is the largest in the world, with seven reactors that can generate 8,212 megawatts of electricity. Reuters notes that restarting the plant is “crucial” to TEPCO’s recovery after the 2011 Fukushima disaster.
Yoneyama has said that a better understanding of the incident is needed before any restarts at Kashiwazaki-Kariwa take place. TEPCO currently has approval to restart two of the reactors at the plant, but needs to carry out additional work before that happens.
Click here to continue reading...