TEPCO mandated to put aside money for scrapping Fukushima plant

Thinking of dropping Tepco and getting my electricity from Softbank.

If they also do gas add it in too, fewer bills/companies to pay the better.

Apparently TEPCO have started circulating pamphlets regarding to how their new partnership with a local Gas company will reduce household bills by 1500 Yen per month (assuming we sign up for it).

Actually it is called Enefarm and I got it last year. They install a big monitor machine and run all of your electricity through the gas. My gas+electricity before Enefarm combined to be about 55,000 a month, but now has been reduced to about 40,000 a month. It is still cool though I do not expect this much savings in the summer.

I do not know why TEPCO would be promoting this service though, it is basically reducing how much we rely on electricity.

Apparently TEPCO have started circulating pamphlets regarding to how their new partnership with a local Gas company will reduce household bills by 1500 Yen per month (assuming we sign up for it).

Somehow,

Japanese mainstream media did not mention this news.

"TEPCO should have been setting aside funds yearly, for the decommissioning of its NPP for along 40 years now. "

I am not sure, but I think this regulation was relaxed when the utilities were told to shut down the reactors, continue providing electricity, and do it without raising rates. The government made quite a lot of demands considering that Japan was operating under sanctions against Iran and later against Russia.

Most of the utilities did a heck of a job adjusting, but it was so expensive that it literally threw the trade figures out of kilter for years. They bought the fuels and burned them up just as sure as they were burning money.

Anyway, Kan made the colossal blunder of TELLING the operators to shut down the nuclear power plants without due process. In doing so, he got the government on the hook for all of that. If he had just followed procedures, the utilities would not have claims and there would be nothing to negotiate. Also, buying half of TEPCO stock looks like a great thing for government and the taxpayers, but it also protects shareholders and profits.

But everything they did was popular and was cheered on by the masses when they did it. I read it right here on this site. Here come the consequences.

This is good news in the article. I totally agree. Just speaking from reality here, the likelihood of TEPCO being able to pay for decommissioning entirely on its own without passing it on to taxpayers or customers is directly proportional to how many nuclear reactors it is allowed to start up. You might not like it, but there it is. If you want something else, you will have to pay for it.

"They shouldn't be allowed to make a profit what-so-ever"

Wow (I love this site). There is a smart plan. Let's decide that Tepco should never be allowed to make a profit. The next day, their stock value will fall to zero. Bond holders will demand their money back. The government stake of 50.1% will become valueless. Power will go out in Tokyo and its environs. Utter chaos. All from some childish temper tantrum becoming public policy.

That is not how this works. That is not how any of this works.

"So TEPCO will probably add a Decommissioning surcharge to Householder bills, and continue to make a profit at the same time. T"

One way or another, that is how this will shake out.

Tokyo Electric Power Company Holdings Inc (TEPCO) to accumulate funds needed for decommissioning its crisis-hit Fukushima nuclear power plant,

TEPCO should have been setting aside funds yearly, for the decommissioning of its NPP for along 40 years now. Since this seems to have not been done...... I guess better late than never

TEPCO have been posting record profits for the past couple of years.

truth is stranger than fiction.

we shouldnt get so political here, nobody throught about the disaster in Fukushima, yes! TEPCO must pay but not all their revenue. Maybe 40% but not more

Where did they get the money to pay for that nice sign and letters? They should be drawing it with marker and pencil and giving the money to the folks who lost their lives.

So TEPCO will probably add a Decommissioning surcharge to Householder bills, and continue to make a profit at the same time. This Surcharge will be given to the Government under the auspices of this decommissioning fund, but instead, the money will probably be used for something else, as the actual decommissioning will occur many years later in the future, and wont be of concern to the current Government. By the time the actual decommissioning date comes up, there wont be any money, and the former Government - long since gone, will get the blame....

Excellent! Other power companies should also have to do this. It is not just the cost of decommissioning, but also the time it takes to fully complete the process (decades) that is the problem. Here is the link to a 2016 official report on this topic: https://www.oecd-nea.org/ndd/pubs/2016/7201-costs-decom-npp.pdf

Quick summary (on page 28): No one knows how much it costs to decommission. Basically, governments and businesses 40 years ago bet on nuclear energy without fully understanding the costs and dangers. And now people are paying the price, like those in Fukushima.

We need clean, renewable energy now.

gogogo: Agreed! And all those execs involved in the crisis, including current execs, should have to work for the rest of their lives for nothing -- or until it is finished being decommissioned, whatever comes first. It is nothing short of shameful that TEPCO has talked about handouts and getting back into the black while people still suffer at their hands and with the fallout of what will end up being the most expensive disaster in history short of war.

They shouldn't be allowed to make a profit what-so-ever!