The decade-long nuclear winter is thawing in Japan after the 2011 Fukushima disaster froze the country's nuclear power industry. Now, government authorities are taking steps to restart nuclear power plants.
Bloomberg reports Tokyo Electric Power Co. shares jumped 14.6% on Monday, closing at the highest levels since 2015. Shares are up more than 41% since late November. The reason for all this optimism comes as Japan's Nuclear Regulation Authority recently stated it will make a final decision on restarting the utility's Kashiwazaki Kariwa nuclear power plant.
Before the nuclear regulatory authority can decide, an on-site inspection by officials and a meeting with Tepco's president are necessary. The head of the agency said last week that a decision about Kashiwazaki Kariwa could come as early as the end of the year.
"This is the clearest signal yet that the regulator could soon reverse the order, which it implemented in 2021 after serious security missteps were found at the facility," Bloomberg said last week.
As energy costs from fossil fuels surge, Japan's reassessment of its nuclear power policies, following over a decade of stagnation since the Fukushima incident, has been reassessed:
- In Stunning Post-Fukushima Shift, Japan To Build More Nuclear Power Plants
- Post-Fukushima Shift: Political And Public Support Rises In Japan For More Nuclear Plants
- Global Energy Crisis Forces Japan To U-Turn On Its Nuclear Policy
- Japan's Government Adopts Nuclear Energy Policy In Major Turnaround Amid Energy Crisis
- Post-Fukushima Shift: Japan Court Rejects Citizens' Concerns, Paving Way For Nuclear Power Restart
Also, the price of yellowcake - uranium concentrate used in nuclear generation - recently hit a 15-year high. Demand for a 'green future' will only be achievable with a nuclear power generation mix.
Since we first recommended uranium stocks in December 2020, in a note titled "Buy Uranium: Is This The Beginning Of The Next ESG Craze," uranium prices have soared 173%.
The future is bright - and if climate change alarmists want to power the new green economies - they must do so with a combination of nuclear because solar and wind are unreliable.