Japan agrees second nuclear reactor life extension since Fukushima
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
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 the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your 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
- China November forex reserves fall more than expected to lowest in nearly six years
- Japan Inc warns of global trade contraction under Trump presidency: Reuters poll
- Chevron sets 2017 capital budget, in 4th year of spending cuts
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!