Second Japanese nuclear operator seeks bail-out

Hokkaido Electric Power Company of Japan is reportedly in negotiations with a state-owned bank for a possible 50bn yen ($483m) bail-out.



According to Reuters, if reports are correct this makes Hokkaido, who owns and operates the 2070 MW Tomari nuclear power plant (pictured), the second nuclear operator to be bailed out since the 2011 Fukushima crisis.

Quoting an unofficial source, Reuters says the power utility has approached the Development Bank of Japan to buy preferred shares in the company.

The Financial Times reports that Hokkaido Electric estimates it suffered a 60bn yen net loss in the fiscal year through March, its third year in the red following the Fukushima-Daiichi nuclear meltdown in 2011.

Hokkaido Electric Power Company has the electricity monopoly on Hokkaido, Japan's second largest island.

Tokyo Electric Power Company was bailed out by the government in 2012.

For more Nuclear Power news.

For more Asia news.



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

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...