Fukushima reactor disaster costs near $200 billion


The latest sobering numbers from Japan Today:

Japan’s trade ministry has almost doubled the estimated cost of compensation for the 2011 Fukushima nuclear disaster and decommissioning of the damaged Fukushima Daiichi nuclear plant to more than 20 trillion yen ($177.51 billion), the Nikkei business daily reported on Sunday.

The trade ministry at the end of 2013 calculated the cost at 11 trillion yen, which was comprised of 5.4 trillion yen for compensation, 2.5 trillion yen for decontamination, 1.1 trillion yen for an interim storage facility for contaminated soil, and 2 trillion yen for decommissioning, the report said.

The new estimate raised the cost of compensation to 8 trillion yen and decontamination to 4-5 trillion yen, the cost for an interim storage facility remained steady, and decommissioning will rise by several trillion yen, it added.

The part of the cost increase will be passed on in electricity fees, it added, citing multiple unnamed sources familiar with the matter.

A parallel story from California

The Fukushima reactor complex was constructed adjacent to the Pacific Ocean coast in a nation known for it’s frequent and furious earthquakes.

Remind you of California?

As we’ve written previously and extensively, California allowed construction of both its commercial power reactor complexes on the Pacific Coast and in areas riddled with earthquake faults.

And when one of the reactor complexes suffered a major breakdown, the Golden State did just as Japan is now doing. They stuck utility customers with the bill.

From a 3 June story in the San Diego Union-Tribune, reporting on the shutdown of the San Onofre reactor complex in northern San Diego County, a project of San Diego Gas & Electric Co.:

According to the utility, customers are on track to save $500 million or more off their share of the original $4.7 billion deal adopted by regulators 19 months ago.

An insurance payout and funding from a federal nuclear decommissioning trust have helped, the utility said. And further reductions in the ratepayer contribution may come if Edison is successful in a lawsuit against vendor Mitsubishi Heavy Industries, and in selling off fuel purchased for the nuclear plant that will no longer be needed.

Consumer advocates criticized Edison’s response to the utilities commission. They said the company cherry-picked numbers to make it appear customers are being charged less than they are.

The critics said that nowhere in the filing does the utility accept responsibility for installing flawed equipment that led to the shutdown of the plant amid a radiation leak in January 2012.

The reason for the shutdown is that the company installed a faulty piping system inside the reactor complex, a set of pipes so flawed that they leaked radioactively “hot” water inside the containment structure.

The whole nuclear power industry was an offshoot of the U.S. nuclear weapons program, and the government lied to the American people in order to get concessions and support run through Congress.

The most notorious lie came in 1954, when the first chair of the Atomic Energy Commission [now the Department of Energy] told science writers that “Our children will enjoy in their homes electrical energy too cheap to meter.”

Those children now have children of their own, and those meters are still clocking up the dollars.

And now when those power stations go flooey [a favorite phrase of esnl’s own dad], the customers are stuck with the bill.

Consider an analogy

You’re in a grocery store when an earthquake hits, hurling all those beer and wine bottles, milk containers, pickle jars, and all the rest smashing to the floor.

Where they break.

Then you go the the checkout line to pay for whatever you’re gathered before the earth moved, only to discover that you’re forced to pay for all that smashed inventory — goods smashed because the store didn’t built in devices to restrain those goods from hurtling into into a catastrophic mess of goo and gunk. . .

Seem fair to you?

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