European Nuclear Society
e-news Issue 5 Summer 2004
http://www.euronuclear.org/library/public/enews/ebulletinsummer2004/nucnet-news.htm

NUCNET NEWS

Japan’s Tepco Predicts Increased Nuclear Share Following Fiscal 2003

Tokyo Electric Power Co. (Tepco) says that while nuclear plant suspensions contributed to the rise in fuel costs for thermal power generation last year, those costs are expected to fall – through an increase in the share of electricity generated by nuclear power – the company reported in its recently released financial results for fiscal year 2003.

Those suspensions of nuclear plant operations in the spring of 2003 followed allegations concerning the falsification of inspection records (see Business News No. 22.2, 15th April 2003). Tepco’s 17 reactors units – six at the Fukushima I nuclear power plant, four at Fukushima II and seven at Kashiwazaki Kariwa – began returning to service soon afterward (see News No. 170, 16th May 2003). As of 30th April, 12 of the Tepco units were operational. According to the operating records of Japanese nuclear power plants in May, Tepco’s Fukushima I-1, Fukushima I-6, Fukushima ll-2, Fukushima ll-4 and Kashiwazaki Kariwa-2 remain shutdown due to periodic inspection.

In the fiscal 2003 results, Tepco reported a net income of 149.5 billion Japanese yen (JPY) (1.37 billion US dollars), representing a 9.5% decline from the previous fiscal year (see Business News No. 29, 29th May 2003). Tepco’s volume of electric power sold during fiscal 2003 also declined from fiscal 2002 due to decreases in air-conditioning demand caused by an unusually cool summer and mild winter, as well as to the sluggish demand for industrial use caused by a slump in production activities. The total electricity sold by Tepco fell by 2.1% from the previous year to 276 terawatt hours (TWh).

On expenses, the company said that while: “Suspensions of nuclear power plants continuing into fiscal 2003 sharply pushed up the fuel costs for thermal power generation, on the other hand Tepco worked hard to further improve efficiency and cut costs across the entire range of operations … (and) Tepco was able to reduce ordinary expenses by 2.1% from the preceding year to JPY 4.57 billion.”

Looking ahead, the fiscal 2003 report reads that despite the anticipated increase in nuclear-related repair expenses and the heavier burden caused by an advance on the price of crude oil, Tepco estimates that electric power sales will increase by 2.2% and that the company expects to register a net income of JPY 265 billion in fiscal 2004. The report concludes: “Tepco expects to achieve these figures on the basis of an estimated reduction in fuel costs resulting from an increase in the share of electricity generated by nuclear power, and by continuing to promote comprehensive measures to improve efficiency and reduce costs.”

An English-language summary of Tepco’s financial results for fiscal 2003 is available through the company’s website (http://www.tepco.co.jp).

Source: Tepco / Japan Atomic Industrial Forum (JAIF)

Editor: Daniel MacIsaac

© Copyright by NucNet. Reproduction or redistribution in any electronic form whatsoever strictly prohibited unless expressly authorised by NucNet Central Office.
Fax +41-31-382-0100, Tel. +41-31-320-6111.
E-Mail: info@worldnuclear.org, Internet: www.worldnuclear.org

________________________________

Civic Leaders Promote New Dutch Research Reactor

The local council in the Dutch municipality of Zijpe - home of Europe's Petten research reactor - is urging that a replacement be built when the current reactor reaches the end of its operational lifetime in around 2015.

The council expressed its support for a replacement for the European
Commission-owned high flux reactor in a meeting called to discuss future
prospects for the municipality - details of which were reported in the 8th
July edition of one of the biggest regional newspapers in The Netherlands, the "Noordhollands Dagblad".

Last year, an independent study by a Dutch government committee showed that a halt in operation of the Petten reactor of more than a month would lead to shortages of at least two medical isotopes, "affecting patients all over Europe".

Source: Noordhollands Dagblad / Various

Full report: NucNet News in Brief No.8, 12th July