TEPCO is internationally known for the nuclear accident at its Fukushima Daiichi Nuclear Power Plant in Fukushima Prefecture, which was caused by the Tohoku earthquake and the following tsunami in March 2011. The decommissioning of the Fukushima power plant is ongoing due to the process being complex as there are high radiation levels and huge amounts of radioactive waste.
TEPCO's plan to release treated radioactive wastewater into the ocean starting in 2023 has been discussed controversially by neighboring countries such as China, and South Korea as well as fishing unions. However, after assessments by experts from several countries as well as the U.N. International Atomic Energy Administration, South Korea recently stated that the release meets global standards and is expected to have no meaningful radiological impact on the environment.
After the disaster, TEPCO's operating revenue decreased, but the Japanese government supported the company financially to ensure the electric power supply for Tokyo. However, all seven nuclear power plants owned by TEPCO remain suspended. In contrast, the average nuclear power station utilization rate in Japan increased to over 18 percent in recent years.
TEPCO's plan to release treated radioactive wastewater into the ocean starting in 2023 has been discussed controversially by neighboring countries such as China, and South Korea as well as fishing unions. However, after assessments by experts from several countries as well as the U.N. International Atomic Energy Administration, South Korea recently stated that the release meets global standards and is expected to have no meaningful radiological impact on the environment.
Consequences of the Fukushima disaster on the energy industry
The Fukushima disaster both had an impact on the Japanese and the international nuclear power industry. The disaster triggered an international discussion about nuclear power safety and some countries decided to reduce or fade out nuclear power generation. In Japan, all nuclear power plants were shut down for security inspections and the nuclear energy supply dropped down to zero in 2014. Nuclear energy was then replaced with fossil fuels, which remain the energy source with the largest share in electricity generation. However, to become more independent of energy imports and reach its climate goal of becoming carbon neutral by 2050, the island nation currently aims to increase its share of nuclear energy again alongside renewable energy.After the disaster, TEPCO's operating revenue decreased, but the Japanese government supported the company financially to ensure the electric power supply for Tokyo. However, all seven nuclear power plants owned by TEPCO remain suspended. In contrast, the average nuclear power station utilization rate in Japan increased to over 18 percent in recent years.
Current projects and energy sources of TEPCO
Currently, TEPCO generates electricity mostly using hydropower, thermal power, and renewable sources. Currently, hydropower is by far its largest energy source. The TEPCO Group owns around 163 hydroelectric power stations in Japan. The renewable power segment includes wind and solar power but is comparatively small. The company aims to expand these businesses further by developing power stations both domestically and overseas.
