Restart of Kashiwazaki-Kariwa nuclear plant delayed

Tepco blames lack of government funds as reason.

Tokyo Electric Power Company has said it will not restart the the Kashiwazaki-Kariwa nuclear power plant anytime soon.

President Naomi Hirose blamed the firms’ financial woes and the absence of government funding for the situation.

"If we don't get back in the black, we would no longer exist as we are. We will use all possible means to achieve that."

Tepco in 2012 proposed a plan to streamline operations in exchange for government approval of a rate increase and public cash to remain afloat. Hirose this week, however, said Tepco will not seek additional government funds.

The Kashiwazaki-Kariwa Nuclear Power Plant houses the world's first ABWR nuclear power plant. It is located on a 4.2 square kilometer site in Niigata Prefecture.