A TEPCO report now admits the faults under all of the reactor units at their Kashiwazaki Kariwa nuclear plant are active. According to the new NRA reactor safety standards this would make a restart of any unit there impossible.
This has huge implications. The government bail out of TEPCO involved a restructuring plan that had one plan, restart Kashiwazaki Kariwa and use those funds to cover TEPCO’s costs for the disaster at Fukushima Daiichi. Everything has been hung on the hope of restarting their other nuclear plant. TEPCO has also spent a considerable amount of money retrofitting the Kashiwazaki Kariwa plant. Filtered vent systems have been installed, flooding mitigation work and additional equipment have been purchased. All of this work may have been wasted money.
With TEPCO’s restructuring plan dependent on what is now unlikely to happen the government financial investment into TEPCO may be lost and TEPCO may not have any prospect for recovery. This will force the government and TEPCO to face the ugly reality that the disaster still will devour money at an alarming rate without any cash coming in to fund it.
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