Japan Atomic Power Co. has diverted so much of its decommissioning funds to build new reactors that it now lacks enough cash to scrap its aging units or even resume operations of existing ones. The problem-plagued company is banking on a decision by the Nuclear Regulation Authority, but even that might not be sufficient to save it financially. The Ministry of Economy, Trade and Industry requires nuclear power plant operators to accumulate decommissioning funds every year based on their estimated costs to scrap reactors. The ministry’s guidelines, however, do not prohibit the companies from temporarily using the accumulated money for other purposes. According to calculations, Japan Atomic Power should have saved around 180 billion yen ($1.6 billion) to decommission its four nuclear reactors. The company declined to give details about how much of decommissioning fund was used for other purposes. However, a person familiar with the situation said the operator “diverted the majority.”
Asahi Shimbin 17th Nov 2017 read more »
