.- The third largest energy operator in Japan said Monday it agreed to close a nuclear plant until you are better prepared for a major earthquake and tsunami that class in March triggered the worst nuclear crisis in 25 years. Chubu Electric Power agreed to close its Hamaoka plant in central Japan, raising concerns about energy supplies to the region, home to Toyota Motor Corp.
and other big manufacturers. The decision to close the Hamaoka plant, located about 200 miles southwest of Tokyo and is considered one of the complexes at greater risk in the event of a devastating earthquake, came after an unusually intense pressure from Prime Minister Naoto Kan. Facing public concern about an industry that supplies about 30 percent of the country's electricity, another nuclear power operator - Japan Atomic Power - said they had controlled a small radiation leak at its plant in Tsuruga, on the west coast, the first since it began operations in 1987.
The operator said that the leak had no impact on the environment. The Minister of Commerce and Industry of Japan, Banri Kaieda, said the closure of Hamaoka is a special case due to its location and reiterated that other plants will not be selected for closure. A close associate of Khan stated that it could take further action if judged that other plants generate an immediate risk, but added that the government has yet to revise its long-term energy policy.
"We took the safest route and decided to seek the closure of Hamaoka, Goshi Hosono told reporters. "After this he held a long-term debate on nuclear energy and energy policy," he added. The authorities have acknowledged that the nuclear crisis in the Fukushima Daiichi plant of Tokyo Electric Power Co (TEPCO) requires a review of the goal of increasing the share of nuclear energy for electricity supply from 30 percent today to 50 percent 2030.
Chubu Electric said the closure, which could take two years, could cause problems in the short term for both customers and shareholders. The company canceled its annual profit outlook and warned it could take financial complications due to the cost of finding alternative fuels. "But firmly implement measures to strengthen security is the priority for further work on the stable and secure long-term nuclear energy, which ultimately will benefit our customers," said the president of Chubu Electric, Akihisa Mizuno, a press conference.
Energy shortages may not be as severe as to delay economic recovery, since the operator may be able to meet summer demand due to thermal energy and electricity in western Japan. But after the summer, the government will have to articulate a specific plan on energy policy, which could cause Japanese firms to take part of their production abroad and discourage private consumption.
The Hamaoka plant delivers electricity to half of the 18 plants that produce Toyota vehicles in Japan and the four domestic auto factories and motorcycles, Suzuki Motor Corp's. The coverage area also includes other auto plants such as Honda Motor Co and Mitsubishi Motors Corp, but Toyota is the most vulnerable given their high proportion of domestically made cars.
The Chubu region includes a concentration of manufacturing industries in the semiconductor and flat panel displays such as LCD factory Kameyama plant Sharp Corp. and Toshiba's Yokkaichi Semiconductor Corp. The closing of the plant in central Japan could discourage builders to build factories and affect local consumption.
"We rely on short-term thermal energy, but this increases costs and emissions," said Yasuo Yamamoto, senior economist at Mizuho Research Institute. "In the future, we are confident that the Government want to do it. The longer the uncertainty about energy supply, more companies will begin to think about developing their manufacturing overseas, "he said. 
and other big manufacturers. The decision to close the Hamaoka plant, located about 200 miles southwest of Tokyo and is considered one of the complexes at greater risk in the event of a devastating earthquake, came after an unusually intense pressure from Prime Minister Naoto Kan. Facing public concern about an industry that supplies about 30 percent of the country's electricity, another nuclear power operator - Japan Atomic Power - said they had controlled a small radiation leak at its plant in Tsuruga, on the west coast, the first since it began operations in 1987.
The operator said that the leak had no impact on the environment. The Minister of Commerce and Industry of Japan, Banri Kaieda, said the closure of Hamaoka is a special case due to its location and reiterated that other plants will not be selected for closure. A close associate of Khan stated that it could take further action if judged that other plants generate an immediate risk, but added that the government has yet to revise its long-term energy policy.
"We took the safest route and decided to seek the closure of Hamaoka, Goshi Hosono told reporters. "After this he held a long-term debate on nuclear energy and energy policy," he added. The authorities have acknowledged that the nuclear crisis in the Fukushima Daiichi plant of Tokyo Electric Power Co (TEPCO) requires a review of the goal of increasing the share of nuclear energy for electricity supply from 30 percent today to 50 percent 2030.
Chubu Electric said the closure, which could take two years, could cause problems in the short term for both customers and shareholders. The company canceled its annual profit outlook and warned it could take financial complications due to the cost of finding alternative fuels. "But firmly implement measures to strengthen security is the priority for further work on the stable and secure long-term nuclear energy, which ultimately will benefit our customers," said the president of Chubu Electric, Akihisa Mizuno, a press conference.
Energy shortages may not be as severe as to delay economic recovery, since the operator may be able to meet summer demand due to thermal energy and electricity in western Japan. But after the summer, the government will have to articulate a specific plan on energy policy, which could cause Japanese firms to take part of their production abroad and discourage private consumption.
The Hamaoka plant delivers electricity to half of the 18 plants that produce Toyota vehicles in Japan and the four domestic auto factories and motorcycles, Suzuki Motor Corp's. The coverage area also includes other auto plants such as Honda Motor Co and Mitsubishi Motors Corp, but Toyota is the most vulnerable given their high proportion of domestically made cars.
The Chubu region includes a concentration of manufacturing industries in the semiconductor and flat panel displays such as LCD factory Kameyama plant Sharp Corp. and Toshiba's Yokkaichi Semiconductor Corp. The closing of the plant in central Japan could discourage builders to build factories and affect local consumption.
"We rely on short-term thermal energy, but this increases costs and emissions," said Yasuo Yamamoto, senior economist at Mizuho Research Institute. "In the future, we are confident that the Government want to do it. The longer the uncertainty about energy supply, more companies will begin to think about developing their manufacturing overseas, "he said.
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