Tokyo Electric Power Co. Holdings Inc. decided on Oct. 28 to provide financial support to the aging Tokai No. 2 nuclear plant, which has been offline since the 2011 earthquake and tsunami disaster and faces an uncertain future. TEPCO’S board agreed on the assistance estimated at more than 220 billion yen ($2 billion). Japan Atomic Power Co., which owns the nuclear plant in Ibaraki Prefecture, will accelerate the construction of anti-tsunami embankments around the plant and other safeguards to full speed. But local municipalities have opposed the resumption of operations at the Tokai No. 2 plant, where safety upgrades are needed, and an agreement to gain their consent is nowhere in sight. TEPCO faces the serious risk of failing to recoup its enormous investment in the Tokai No. 2 plant.
Asahi Shimbun 29th Oct 2019 read more »