Japan Gets Nuclear Agency’s OK To Restart Reactors

apan’s nuclear regulator has given its formal safety sign-off for two reactors at a nuclear plant in the south of the country to restart.

The Sendai plant secured preliminary approval for the restart in July and has now completed a public consultation period.

The regulator says the reactors have met new standards introduced after the Fukushima disaster.

These are the first two reactors to secure this permission.

Now the Sendai plant, in southern Kyushu, must obtain restart approval from local authorities, who are reported to back the move.

It must also pass on-site operational inspections, Kyodo news agency said, with a restart unlikely before December.

All Japan’s 48 reactors are currently stopped, but PM Shinzo Abe has been pushing for restarts where possible.

The Japanese public turned against nuclear power after the meltdowns at the Fukushima plant in 2011.

Before the incident, which was caused by a massive earthquake and tsunami, nuclear plants supplied about 30% of Japan’s power.

But since then the plants have been closed, either for scheduled maintenance or because of safety fears, and have not been restarted.

Japan’s last reactor, at Ohi in western Japan, went offline in September 2013.

Japan is currently relying on extra imports of coal and gas to generate power while its nuclear reactors are idle.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza