11:24 GMT11 August 2020
Listen Live
    Asia & Pacific
    Get short URL

    Decommissioning the Fukushima-Daiichi nuclear plant, following its 2011 disastrous meltdown, will cost almost twice what was initially projected in 2013, according to Nikkei.

    The March 11, 2011, magnitude-9 earthquake not only caused massively destructive tsunamis across the region, but also created the worst nuclear crisis since the 1986 Chernobyl nuclear catastrophe in Ukraine. 

    The decommissioning project will run some 20 trillion yen (about $178 billion), including 8 trillion yen in labor compensation expenses, four to five trillion yen for decontamination, 1.1 trillion yen for temporary storage facilities, and 2 trillion yen devoted toward decommissioning the reactors, Reuters reports. The largest line-item increases were for labor compensation, decontamination, and decommissioning. The original estimate had been some 11 trillion yen.

    Multiple unnamed sources familiar with the situation told Reuters that some of the cost increases would be passed onto consumers in the form of higher electricity fees.

    The Japanese Ministry of Economy, Trade, and Industry is currently in talks with the Ministry of Finance about increasing a 9 trillion yen interest-free loan to the plant’s operator, Tokyo Electric Power Company, according to Reuters. Further, the Japanese government is examining whether to issue and sell bonds to cover some of the compensation payments and decontamination costs, The Japan Times reports. 


    5.6-Magnitude Earthquake Hits Southeast of Namie in Japan’s Fukushima - USGS
    Earthquakes Hit Japan, One Near Fukushima Reactors
    Fukushima: Hundreds of Radiation-Related Cancer Cases on the Way in Japan
    No Fukushima Ever Again: Fourth Anniversary of the 2011 Earthquake in Japan
    Suicide Rate Among Japan's Fukushima Disaster Evacuees Grows in 2015
    Tokyo Electric Power Co. (TEPCO), Japan Ministry of Finance, Japan Ministry of Economy, Trade, and Industry, Fukushima, Japan
    Community standardsDiscussion