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Gov't wants to replace entire TEPCO board

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pouring money into radiation is not going to brighten Fukushima or TEPCO future.

0 ( +2 / -2 )

Why did it take them so long to decide to replace the Board?????

8 ( +8 / -0 )

Whoever they put in as replacements couldn't be worse that this crowd.

4 ( +4 / -0 )

Not just the board, it should in fact be the entire company. Sell off the nuclear plant in Niigata, sell off all it's other power plants, sell off all it's assets, including the hidden ones overseas. Sell off the very lucrative supply to Tokyo.

Recover the ¥500 million paid out to the ex-president and about 20 other executives.

Throw the board, the president, the ex-president into jail while waiting trial.

Form two new government run companies. One for dealing with the compensation claims. The other for dealing with the nuclear power plant disaster.

16 ( +16 / -0 )

I think the reason it is taking so long is because there has not been any trial for negligence and no one has been found guilty of any crime. So the gov't has to go through a bunch of red tape and offer these "public bribes" of helping with compensation to get things done.

1 ( +1 / -0 )

i hope the new board will not be another hand-picking job of OBs and port-bellied billionaires sympathetic and eager to swtich on nuclear reactors. I hope it will be a genuine change in management with highly qualified board, selected on academic and other qualitities and all vetted by the diet/parliament. I hope they will have TORs, including a quarterly report to parliament on progress of: resettlement of the displaced (for as long as it takes), business plan for future operations and altertive energy trajectories, environmental considerations, etc, etc. I hope it is not another PR gimmick to hoowink unsuspecting japanese into believing that something is being done to improve the status quo, yet it is a carefully planned build up to the official declaration that all nuclear power plants are safe under new management and should be switched on. I really just hope the government gets it right this time round.

1 ( +1 / -0 )

Forgive my ignorance here, but if we have 54 reactors in Japan, and only two of them are switched on right now, and yet we are all getting by (as far as I am aware?) without power shortages or even power saving measures - where is all this power coming from? And is it then reasonable to assume we dont need these reactors at all and can get by without them? Genuine question. If it is currently coming from China and we are paying whacking great rates for it, then fair enough, we need to get this sorted, but unless I am missing something somewhere we seem to be getting by?

-2 ( +2 / -4 )

Japan has currently: 22 steam-electric plants - coal and lignite, 14 Gas- and Oil-Fired Steam-Electric Plants, 25 combined-cycle and gas turbine plants - CCGT, 32 conventional hydroelectric plants, 9 pumped-storage hydroelectric plants, 7 waste-to-energy plants.

109 power plants that are NOT nuclear. + 18 nuclear power plants

1 ( +1 / -0 )

Nicky, very good question. The lights are still on and there's been no calls for power savings. I was wondering myself how the big industrial users are getting by and read that more than a few are either moving or considering moving their plants offshore if they can't get a guaranteed power supply here in Japan.

So this disaster has not only wrecked the lives of thousands of people here in Fukushima, it will continue to do so in other areas of Japan if companies pack up shop and move out:

The government replacing the entire board - is this unprecendented in this country?  I'm wondering who exactly they will replace them with and can only hope they can poach some executives from another nuclear power company. I think the only people who should be put in charge of TEPCO are others with experience in the nuclear industry. The potential risks of doing otherwise are too great imo.

0 ( +0 / -0 )

Meanwhile, major banks and insurance firms are expected to approve fresh loans totalling $13.2 billion, or 1.07 trillion yen, for TEPCO on condition it hikes power bills and resumes nuclear power generation, the Nikkei business daily said

And Japan Inc. wins again and the citizens foot the bill.

-1 ( +0 / -1 )

What would be happening instead of a private company causing this manmade nuclear disaster, it had been caused by a terrorist attack? They would be looking for those responsible.

5 ( +6 / -1 )

The government recently stated there would be no power shortages even without any nuclear reactors.

5 ( +5 / -0 )

Gov't wants to replace entire TEPCO board

A lot of people should have already been given the axe.

1 ( +1 / -0 )

The loss of power from the nuclear reactors was mostly taken up by LNG fired power plants. In January, there were record imports of LNG, 8.15 million tons, up 28.2% from the previous year. Most of the imported LNG is from Quatar, Malaysia and Indonesia.

Coal only increased by 7.9% up to 10.03 million tons. For the same period, oil imports fell by 2.1%.

So, the loss of nuclear power is being taken up by LNG.

This will increase the cost of energy imports by $38 billion per year, which will result in eventual increases in power charges both for business and domestic.

The country needs to make power reduction of about 15% by using power more efficiently and using all the renewable energies.

Iceland is the only country which generates 100% of its total power, and more than 90% of heating and hot water from renewables. Hydro generates 75% and geothermal 13% producing 220 TWh/yr. There are heaters under the sidewalks in the main cities.

Denmark generates 20% of its total power from wind energy, mostly at off shore plants.

5 ( +5 / -0 )

@NWashida

I live near a solid fuel power plant and it is going 24/7 at the moment.

1 ( +1 / -0 )

Moving the chairs? Telling a story about change, but we all know similar people sit down and begin the same rant "we need N-power" Ignoring the continuing unstable dirty bomb to the north. Talk about home grown terrorism, red brigade have nothing compared to TEPCO. Wringing it's hands the government has done nothing but accept the wholesale destruction of lives and the slow murder of a generation to live upto their corrupt and evil money gathering schemes. It no surprise to them to have $4 million in cash at home, need it to buy wet wipes, it's a big job wipping all that blood of their hands.

0 ( +1 / -1 )

Cricky,

"Red Brigade" I think you mean "Red Army", the Red Brigade were a group of Italian anarchists, and the Red Army, Japanese?

4 ( +4 / -0 )

Why did it take them so long to decide to replace the Board?????

Because at first they had to collect the money and decide whose pocket it will migrate to.

-1 ( +0 / -1 )

Zichi is onto it

Throw the board, the president, the ex-president into jail while waiting trial.

1 ( +1 / -0 )

Zichi thanks, you are right. Perhaps Red TEPCO or if anyone has a better tag for those responsible for the biggest dirty bomb in history could suggest something? TEPCO isn't enough! Yellow March!...an idea!

0 ( +1 / -1 )

Close TEPCO, abandon nuclear power, open the grid, break the monopoly of the Utilities and let all private entrepreneurs supply power and move aggressively by saving energy and pushing the renewable sectors. For starters, the idea of renting out one's roof for solar panels is a neat idea.

4 ( +4 / -0 )

Patrick Hattman, I hope it was not only a figure of speech. I think the "guillotine" would be more appropriate for these rascals.. whatever happened to their top honcho Shimuzu?

0 ( +0 / -0 )

Cricky,

Yes! RED TEPCO sounds just about right!

3 ( +3 / -0 )

jazz350,

For starters, the idea of renting out one's roof for solar panels is a neat idea.

Some factories have already asked for government permission to rent roof top space to install solar panels.

3 ( +3 / -0 )

@ zichi, utrack, kurisupisu et al - thanks for the info.

-2 ( +2 / -4 )

The current discussion is much more rational than in the past and somewhat less opinionated and emotional.

Changing of the guard or the Board is a very good move for any company. In fact, the change should go all the way down to the department levels in operation and not just administration. If a 3 to 5 year single term "limit" can be placed for all administrative management, regardless of performance, (it is my personal observation) that most companies will run better. It may not produce extremely high "profits" but the operation would be sound and efficient.

Regardless... a government should NEVER - take over a private company or industry regardless of the "loss" in profits and possible bankruptcy and possible inconvenience to the public. Instead, All similar or same public service industries such as utilities and communication that affect the entire nation, should be required to "assist" in case of "disasters", then when recovered, continue to be competitive in providing the best products and services.

Already government by lack of public participation usurps too much power and too often makes decisions and takes actions that is more self-serving for those in power than for the public good and benefit.

0 ( +0 / -0 )

These links might have some background to this story.

http://www.telegraph.co.uk/news/worldnews/asia/japan/japan-earthquake-and-tsunami-in/9084151/How-the-Yakuza-went-nuclear.html

http://www.theatlanticwire.com/global/2011/12/yakuza-and-nuclear-mafia-nationalization-looms-tepco/46803/

The word seems to be that the US administration is getting tired of Japanese government foot-dragging over cleaning up yakuza penetration of global financial systems and the risks this poses to the whole creaky boat we're all in. Having nuclear power plants run unable to run without the yakuza seems to other governments outside Japan like a bad idea. It probably does to half the Japanese government too, but some of the other half are in the pockets of organised crime (and I'm not referring to TEPCO here!), so they haven't done anything about it. As TEPCO hasn't cleaned up its contracting system, it's being considered an international security threat. The Japanese government it seems, therefore needs to sweep the board if they're going to tackle this problem.

I second Zichi's idea of forming two separate companies. Except I'd make it three, to separate power generation and distribution.

This is so overdue, it's tragic.

Moderator: The yakuza are not relevant to this particular story. Please repost.

0 ( +0 / -0 )

"Meanwhile, major banks and insurance firms are expected to approve fresh loans totalling $13.2 billion, or 1.07 trillion yen, for TEPCO on condition it hikes power bills and resumes nuclear power generation, the Nikkei business daily said."

Sooooo.... TEPCO gets bailed out at our expense, on the conditions, by banks which routinely screw us over, that they charge us MORE money and restart the very things that are a part of the problem? Sounds like win-win-win for everyone, if this were bizarro world.

I'm glad they're going to 'replace' (no doubt with great severance packages) the board, but with whom will they replace them? I haven't known the government to make very good choices on who takes positions of power.

Finally, I like how they're starting up the whole, "We may face power shortages for summer" since winter is more or less passed and we had none. Same old song and dance, I guess.

0 ( +1 / -1 )

new TEPCO board should all be foreigners. people not familiar with the entrenched japanese corporate executive system.

2 ( +3 / -0 )

Workers are leaving in droves, in numbers never heard of before. Guess they could find no one wants to work for them. I mean the Japanese are always so proud of the company they work for, announcing the name of the company even before they tell you what they actually do. How do you do that with TEPCO? Or like going to ask the parents if it's alright to marry their daughter and then telling them you work for TEPCO, the most hatred company in the country.

South Korea have been head hunting nuclear engineers and other skilled nuclear workers.

4 ( +4 / -0 )

Wonder who the black sheep at the helm will be.

1 ( +1 / -0 )

It will be good to get the nuclear power plant grid going again wouldn't it? Considering that know-how and technology is one of Japan's key exports, it would be a shame to stop at the "crying in our beer" stage and never learn anything from it... There are enough countries in the world - including every single major economy in all continents that depend on nuclear energy and who keep working to make it safer, more economical and efficient, and fail-safe, too.

-4 ( +0 / -4 )

@Nichikolohe: "It will be good to get the nuclear power plant grid going again wouldn't it? There are enough countries in the world - including every single major economy in all continents that depend on nuclear energy and who keep working to make it safer, more economical and efficient, and fail-safe, too."

Can you name any of those developed countries with a population density of 340 persons per sq km, and 54 nuclear reactors squeezed in an area smaller than California...one of the USA 50 states, and sitting on some unpredictable mennace of life threatening earthquakes? Do you know that in 'the ring of fire' or earthquake prone zone, almost all the nuclear reactors are in one country..Japan? Do you know that earthquake prone countries such as Newzealand declared their countries and regions nuclear free zones, thanks to wise leadership? Is newzealand under-developed? How about Australia, with all its landmass, has only one nuclear reactor, used only for medical purposes....to produce radio isotopes!!!!!! Is australia underdeveloped?

Japan should admit it took a dirty, expensive, unsustainable, ecologically destructive and wrong energy pathway, and therefore inappropriate business model full of risk. The nuclear fallout is not a Japan only problem, but global and it is everybodys guess that since debris from Fukushima already arrived at USA shores, the baggáge must have included a reasonable doze of radioactive materials, although not seen. The effect on aquative eco-system is yet to be studied. The world is watching and any misconceived step in the wrong direction will lead other countries to conclude it is a careless, remorseless country full of selfish,abnormal-profits-focused individuals, bent on prolifirating nuclear waste , gasing and poisoning the very life support systems life depends on. Japan may therefore be isolated, together with its goods and services, with unimaginable economic consequencies.

2 ( +2 / -0 )

Can "we" (since it is our money afterall) LOAN them the money rather than just give it to them? It is unfair that the public is paying for this mess. Get all the bonuses and luxury items that the board owns and use it towards whatever money they need to do what they have to do.

Also, the government gets to pick who gets to run TEPCO? Yikes. Look at how well they do with picking leaders and the like. Could an international committee come in and decide - say, the international atomic power group that has been meeting over this mess? Wouldn't it better to have someone who knows what is going on, what need to be done rather than a handpicked muppet who won't actually help. I would feel better knowing that someone like Ozawa won't be running the show if that were to happen.

-1 ( +0 / -1 )

I agree with the idea that the government will push TEPCO to replace the whole of board members to boost the recovery plan. Because you can not see any progress in terms of restructuring process that allows TEPCO to change to change. Looking at the process over last one year after the quake, in fact, nothing else was executed. In addition, only thing executed by TEPCO is the rising price. Without any commitment toward to nations by management team from TEPCO to recovery from this situation, nobody can help TEPCO. Consequently it'll be difficult for Japan to control the nuclear power plant at Fukushima.

0 ( +0 / -0 )

The masses want to replace the entire Guv't board. Bong!

0 ( +1 / -1 )

For decades TEPCO has enjoyed private profits but now basically wants to nationalize its debt with a massive government handout. That is scandalous. Let's not forget that Edano got turned over good and proper by TEPCO at a daily news conference in the early days of the crisis. He was asked to respond to the latest situation - but TEPCO hadn't even told the government that information. Yes, a reporter had heard it first. Now it's come back to bite them.

TEPCO board, the days when the government would just roll over for you seem to be coming to an end. Looks like you're all going to have to man up and finally take some responsibility.

Good riddance.

1 ( +1 / -0 )

ignorant idiots wanting to replace ignorant idiots

-1 ( +1 / -2 )

Finally! About time the government wizened up! Hope this plan pushes through! Hopefully increased accountability will arise out of this!

-1 ( +1 / -2 )

Furthermore, I nominate Zichi for government to place at the head of the board!

0 ( +1 / -1 )

hatsoff

For decades TEPCO has enjoyed private profits but now basically wants to nationalize its debt with a massive government handout.

From that point of views, there's no difference then between TEPCO and the bail out of the banks on Wall St?

2 ( +2 / -0 )

Does anyone know the situation we will face this summer though?

TEPCO projects it will be able to supply electricity beyond last summer's maximum capacity next summer even if all 17 of its nuclear reactors go offline, company sources said last Decmber. TEPCO projects it can supply about 57 million kilowatts of power next summer through greater thermal and hydro power generation even if all of its nuclear reactors stop operations by summer. TEPCO's maximum supply capacity last summer reached 55.70 million kw on Aug. 17, against the maximum demand of 49.22 million kw logged the following day.

(source: Mainichi shimbun)

1 ( +1 / -0 )

Nationalize all the Nuclear power plants into NEPCO. Have it all closely monitored by Americans and the IAEA.

0 ( +1 / -1 )

The filth at the top of Tepco have no heart and probably no soul, below is a snippet taken off another news article about this dysfunctional company in relation to the way it treats victims.

What is worrisome is the slow progress in the center's efforts to settle disputes between evacuees and TEPCO over compensation. The over 150 lawyers and other experts who serve as mediators and inspectors with the center have settled less than 10 out of the some 900 claims filed.

The center cited TEPCO's negative attitude toward compensation negotiations as a main reason for the slow progress.

ONLY TEN OUT OF 900 Claims PAID

I have a claim in with Tepco myself (only a small one of a few million yen) they have aknowledged it atleast but are asking for more evidence, when i have already submitted proof of a legitimate claim.

The process is long, tiresome, laborious and difficult to unravel designed to deter, fluster, confuddle people and make them give up before it gets to the stage of them having to payout.

If anyone at the top of tepco had 1 fibre of morale, decency, honor or righteousness this whole nuclear disaster would not have come about.

The longer this whole saga drags on the worse tepco are becoming, and we thought they were bad before................

Some one (actually everyone at the top) seriously needs to be locked up for what has happened and the way they continue to behave to victims.

1 ( +1 / -0 )

"The government wants to replace the entire board of the operator of the crippled Fukushima nuclear plant in exchange for $12 billion of tax money to resuscitate the firm,"

It should replace the entire board in exchange for incarcerating the board members.

0 ( +0 / -0 )

@zichi - basically the same attitude, though the effects of various actions would be different.

0 ( +0 / -0 )

They need to do something fast, because things aren't getting better, imo.

0 ( +0 / -0 )

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