‘Subdued’ long-term growth seen in Japan’s nuclear power sector: report
Nuclear power generation will likely increase to 88TWh in 2031 from 57.3TWh in end-2021.
Japan’s nuclear power sector will likely record a “subdued” growth in the long run, Fitch Solutions reported.
The country’s nuclear power generation is projected to grow to 77.8 terawatt-hours (TWh) from 57.3TWh in end-2021. This is expected to rise to 88TWh in 2031.
“While nuclear power restarts have been limited, the government has bolstered its commitment to it for the summer of 2023, though we maintain our conservative forecasts as commissioning delays remain as persistent headwinds,” the report read in part.
The government of Japan has indicated plans to speed up nuclear power restarts, in light of the higher fossil fuel prices.
“Prime Minister Fumio Kishida signalled intentions to restart four reactors by the end of 2022 and eventually have all 17 plants operational in the summer of 2023,” Fitch noted.
“However, ramping up operations of these reactors continue to be challenging as stringent safety checks and necessary upgrades take time for a plant to be deemed ready for electricity generation by the Nuclear Regulation Authority (NRA) of Japan.”