Japan agrees second nuclear reactor life extension since Fukushima
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
An employee of Kansai Electric Power Co's stands next to the connection unit of an emergency power generator during a demonstration before an inspection by the International Atomic Energy Agency (IAEA) members at Ohi nuclear power plant in Ohi, Fukui pref
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
TOKYO (Reuters) - Japan's nuclear regulator on Wednesday approved an application by Kansai Electric Power Co Inc to extend the life of an ageing reactor beyond 40 years, the second such approval it has granted under new safety requirements imposed since the Fukushima disaster.
The move means Kansai Electric, Japan's most nuclear-reliant utility before Fukushima led to the almost complete shutdown of Japan's atomic industry, can keep No. 3 reactor at its Mihama plant operating until it is 60 years old in 2036.
The regulator granted the first such approval in June to Kansai Electric's ageing reactors No.1 and 2 at its Takahama plant.
The Mihama No.3 reactor, which will turn 40 years old in December, has been shut down since 2011 and a restart will not happen before Kansai Electric carries out safety upgrades at a cost of about 165 billion yen ($1.51 billion). The upgrades involve fire proofing cabling and other measures and are planned to be completed in March 2020.
The regulator has been criticized for hastily approving the safety approval of reactors at the expense of safety.
Opinion polls consistently show opposition to nuclear power following Fukushima. Critics say regulators have failed to take into account lessons learned after a massive earthquake and tsunami caused meltdowns at the Fukushima Daiichi plant.
(Reporting by Osamu Tsukimori; Editing by Kenneth Maxwell)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Syrian rebels call on Russia to help defend ceasefire
- Israel's Netanyahu to speak with Trump on Sunday, Iran on agenda
- Philippine officials to visit Beijing to discuss investment deals, ASEAN summit
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!