Japan Press Weekly

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2016 November 30 - December 6 [SOCIAL ISSUES]

Expert: nuclear power generation costs more than other options available

An environmental economist in an Akahata interview on December 5 said that considering the costs related to the 2011 Fukushima meltdown accident, nuclear power generation will be more costly than thermal power and hydropower generation, refuting the pro-nuclear forces’ argument that atomic power is a low-cost energy source.

In the interview, Ritsumeikan University Professor Oshima Ken’ichi pointed out that the Economy Ministry has recently made an upward revision to its estimated cost of dealing with the aftermath of the Fukushima accident. The estimate was doubled from the previous 11 trillion yen to 22 trillion yen: 8 trillion yen for the decommissioning of the crippled reactors, 8 trillion yen for compensation payment to victims, and 6 trillion yen for decontamination work and temporary storage of contaminated materials.

Oshima said that if the 22 trillion yen is included in the cost of nuclear power-generated electricity, it will be 13.2 yen per kilowatt-hour on average for the time period from 1970 to 2010, which is higher than the averages for thermal power and hydropower generations, 9.87 yen and 3.86 yen respectively.

He pointed out that Tokyo Electric Power Company (TEPCO), the operator of the crippled Fukushima plant, would be unable to pay the 22 trillion yen even if it sold off all of its assets. He said that TEPCO would have to go into bankruptcy. Oshima added that TEPCO’s shareholders and major creditors, mainly megabanks, should take due responsibility for the accident so that the general public will not have to shoulder an excessively heavy financial burden through taxes or electricity bills.

Oshima stressed that TEPCO, the central government, and other nuclear power advocates should apologize for having promoted atomic energy and shut down all nuclear reactors in Japan.