Japan Announces Effective Date for New Nuclear Regulations

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Researched by Industrial Info Resources (Sugar Land, Texas)--Since the Great East Japan Earthquake, tsunami and ensuing nuclear disaster at Fukushima Daiichi Nuclear Power Plant, owned and operated by Tokyo Electric Power Company Incorporated (TYO:9501) (TEPCO) (Tokyo), Japan's fleet of 54 nuclear reactors have been shut down one by one. Currently, none are in service. While some, such as two of the reactors at the Oi Nuclear Power Station, owned and operated by Kansai Electric Power Company Incorporated (TYO:9503) (Osaka, Japan) (Kanden), have restarted, many more failed to complete their safety assessments in time, and have had to wait on an overhaul of Japan's nuclear regulations.

The long-awaited regulatory overhaul has finally reached the home stretch. Following a meeting on June 19, the Japanese Nuclear Regulation Authority (NRA), a branch of the Ministry of Environment, announced that the new regulations will go into effect on July 8. On that date, the NRA will once again begin accepting restart applications from power plant owners.

As it stands, four such owners--Kanden, Kyushu Electric Power Company Incorporated (TYO:9508) (Kyuden) (Fukuoka, Japan), Hokkaido Electric Power Company Incorporated (TYO:9509) (Hokuden) (Sapporo, Japan), and Shikoku Electric Power Company Incorporated (TYO:9507) (Yonden) (Takamatsu, Japan)--have made it known that they will be jumping on this opportunity to submit their applications as soon as possible. Between them, they aim to restart 12 units at six power plants, just more than 20% of Japan's total nuclear fleet.

These four companies were in the news last year in Industrial Info's May 14, 2012, article - Four of Japan's Power Companies Prepare for Rolling Blackouts in Summer. At the time, the restart of Kanden's Oi Nuclear Power Plant was in limbo for their preparation for rolling blackouts in case Oi was not restarted.

The submitted applications will be reviewed by a group of 80 people in three teams. With no precedent under the new regulations, it is unclear how long the permitting process will take. Under the old system, where applications were approved through the Nuclear and Industrial Safety Agency (NISA), Oi Nuclear Power Station had two of its units permitted to restart after approximately three months.

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