Fukushima Cleanup Costs Expected to Nearly Double

file

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. 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Reach New Heights: Six Best Practices in Planning and Scheduling

These 6 best practices have created millions of dollars in value for many global companies. Learn...

Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...