Government advisory says restarting half of Japan’s nuclear reactors could save $20 billion

Posted on January 25, 2013 by Ida Torres in National with 4 Comments
Government advisory says restarting half of Japan’s nuclear reactors could save $20 billion

Just after Japan’s Nuclear Regulation Authority (NRA) submitted a draft of its proposed new requirements for nuclear plants, a government advisory group released a statement saying how the country can save up to US$20 billion by restarting even just half of its nuclear reactors.

The Institute of Energy Economics, Japan (IEEJ), which is overseen by the Ministry of Economy, Trade, and Industry, recommends that nuclear plants that will be deemed safe by the nuclear regulator should be steadily restarted. Even if only half of the country’s 52 reactors were restarted, energy costs could be slashed by as much as 30 percent, amounting to savings of 8 trillion yen (US$20.3 billion) by next year. All but two of the reactors have been shutdown pending safety inspections in the wake of the Fukushima nuclear disaster in 2011.

The government has tried to fill in the energy gap with more financially and environmentally costly alternatives such as fossil fuel and liquefied natural gas (LNG). Japan imported twice as much LNG in year compared to the previous 12 months, which cost it 6 trillion yen (US$67.7 billion). An IEEJ associate warns of a potential economic catastrophe if the country does not return to nuclear power. While majority of the public expressed opposition to the use of nuclear power, it still opted to elect into office a party that is known to be pro-nuclear. Now, the government of Prime Minister Shinzo Abe is trying to reverse the previous government’s commitment to eliminating nuclear from Japan’s energy mix by 2040. Nuclear reactors might be restarted as early as summer this year once the NRA’s more stringent regulations have been approved.

[ via Smart Planet ]
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  • Far East

    That’s utterly rubbish !!

    This is in NO WAY reflecting a true Total Cost of Ownership and in particular accounting for all the collateral cost on the environment, human health hazard with the damage to groundwater, and of course the long-term cost of disposal of the nuclear waste. Should I also add the risk cost of human life when a nuclear accident occurs ? How can anyone put a value on human life ??

    Conclusion : Nuclear Energy is neither clear nor cheap. Anyone who pretends it is deluding itself by pushing back the problem on future generation, which is completely irresponsible.

    • http://www.facebook.com/people/Bean-Cube/100000868968288 Bean Cube

      Democracy and environment are bad for monopoly corporations. Those are none of tycoon’s business corporations. They believe they paid enough to bribe whoever you elected already.

    • eiffe

      there is only one solution: to store the nuclear waste in the responsible politicians backyard!

    • A.C.

      The connections between the Japanese nuclear energy lobby (and the scientists on their pay roll) and Japanese politicans has already been laid open. What’s strange to me is the passiveness of the Japanese people. The earthquake in Japan had brought people in Germany in the streets, forcing politicans to change their attitude towards nuclear energy. In Japan it seems, not even a disaster like Fukushima could change things. Which is especially bad, since scientific reports I read about this had shown that Japan could completely rely on it’s natural resources – wind, water, volcanic heat & geothermal energy – to switch completely to renewable energy, and even export a surplus of 20-40% energy!