Nuclear Economics – Japan Nuke posts losses of 7 trillion yen.

TEPCO, 7 other utilities post combined loss of 1.6 trillion yen

Asahi Shimbun 8 May 2013

Eight electric power companies reported a combined loss of 1.59 trillion yen ($16 billion) for fiscal 2012 as the aftereffects of the Fukushima nuclear disaster continued to hammer their bottom lines.

With almost all of their nuclear reactors shut down, the companies’ fuel costs soared for thermal power generation to secure a stable supply of electricity. They also had to spend large sums for maintenance of the idle reactors as well as for new measures to protect the nuclear plants against earthquakes and tsunami.

Four of the eight utilities posted record losses.

The electric power industry, which has been highly dependent on nuclear power, is banking on the Abe administration to approve the restarts of the reactors. However, new safety regulations could further delay such decisions, force the decommissioning of certain reactors or make nuclear power plant operations economically unfeasible.

Some power companies are raising electricity rates to get through this period of uncertainty.

By April 30, the nation’s 10 regional electric power companies released their financial results for the business year that ended in March.

Only Okinawa Electric Power Co., which operates no nuclear plants, and Hokuriku Electric Power Co., which runs one nuclear plant but relies mainly on thermal and hydro power generation, posted profits for fiscal 2012.
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The historic record shows that from the period of the 1960s to the mid 1970s, nuclear authorities in the US approved the use of large nuclear power reactors even though it was known that in the event of loss of coolant, loss of power and other events, safety and containment could not be achieved. This is heavily documented.

The work of the Union of Concerned Scientists and other groups, including FAS and other US NGOs and indeed the US NRC itself documents the false assurances issued by US authorities and government at the time. As late as the mid 1970s, concurrent with the approval to export the nuclear reactors to Fukushima, Japan, the US AEC Chair was calling for a “technical fix” to the problems of catastrophic failure in reactors.

The safety of nuclear energy is a myth, fission, first patented in the 1930s, is an old technology which is highly polluting over very long time scales.

The technology does not exist which would allow a speedy cleanup of the nuclear contaminated sites and areas in Japan.

The Japanese government, as shown by the sudden emergency decontamination of parts of Fukushima City, commenced yesterday, 8 May 2013, is not even aware of where the dangerous areas are in totality.

Nuclear energy is not the end of science, it is an abortion of science. It has delayed science.

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