Fukushima Cleanup Costs Expected to Nearly Double

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By Editors of Power Engineering

Japan’s trade ministry has revised the estimated cost to address the damaged Fukushima-Daiichi nuclear plant to more than 20 trillion yen, or $177.51 billion, which was nearly double the original estimates.

The original estimated cost of 11 trillion yen, set at the end of 2013, included 5.4 trillion yen for compensation, 2.5 trillion yen for decontamination, 1.1 trillion yen for an interim storage facility for contaminated soil and 2 trillion yen for decommissioning, Reuters reported, citing the Nikkei business daily.

The new estimate raised the costs of compensation and decontamination by eight trillion yen and four trillion to five trillion yen respectively. Decommissioning will also rise, though the cost of the interim storage facility will stay steady.

Japan’s Ministry of Economy, Trade and Industry and the Ministry of Finance will discuss a possible expansion of the interest-free loan program above the current nine trillion yen to help support Tokyo Electric Power Co., the operator of Fukushima.

The nuclear power plant was damaged by a magnitude 9 earthquake, the strongest ever recorded in Japan, on March 2011. 

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