Japan News key snips: Japan Adopts Plan to Make Maximum Use of Nuclear Power
February 10, 2023
CarrZee: This seems like a very deliberate plan, acknowledging the climate transition is multidecadal; I’m worried it is too “go slow”
10-year plan: The government plans to collect fees from fossil fuel importers set in accordance with the amounts of CO2 emissions resulting from the fuel use, starting in fiscal 2028.
From fiscal 2033, power companies will be required to buy emission credits through emission trading.
Unedited from here
TOKYO (Jiji Press) — The Japanese government Friday adopted a plan to make maximum use of nuclear power, in a bid to realize a carbon-free society while ensuring stable electricity supplies.
The basic plan for green transformation marks a departure from Japan’s policy of reducing its dependence on nuclear energy decided after the 2011 meltdowns at Tokyo Electric Power Company Holdings Inc.’s tsunami-hit Fukushima No. 1 power plant.
The plan also includes a target of achieving over ¥150 trillion in public and private investments for decarbonization over the coming 10 years.
To the end, the government adopted green transformation legislation so that it can procure funds for its share of the envisioned investments, which is projected at some ¥20 trillion.
Specifically, the government will issue green transformation transition bonds, which will be redeemed with funds procured through an envisioned carbon-pricing system collecting fees from companies for carbon dioxide emissions.
The basic plan calls for building next-generation nuclear reactors to replace decommissioned ones within the premises of the nuclear plants, ending a freeze on any projects to add, expand or replace reactors.
Japan will also change the rule that limits the operating life of reactors basically to 40 years but tolerates an extension to up to 60 years upon regulatory approval.
Under the plan, Japan will allow power companies to operate reactors beyond the 60-year limit by excluding periods when reactors are halted for safety inspections or other reasons.
The government plans to collect fees from fossil fuel importers set in accordance with the amounts of CO2 emissions resulting from the fuel use, starting in fiscal 2028.
From fiscal 2033, power companies will be required to buy emission credits through emission trading.
Unedited, translated:
“Basic Policy for Realizing GX” was approved by the Cabinet
February 10, 2023
Energy/Environment Since Russia’s invasion of Ukraine in February last year, securing a stable energy supply has become a major global issue. Based on discussions at the GX Executive Committee and deliberative councils in each ministry, we compiled the “Basic Policy for Realizing GX” at the end of last year.After receiving public comments, the Basic Policy was approved by the Cabinet today.
1. background
A GX implementation meeting chaired by Prime Minister Kishida was held on July 27, 2018, and a basic policy was compiled at the end of last year. After that, after receiving public comments, it was approved by the Cabinet today.
2. overview
In addition to responding to the climate change issue, following the Russian Federation’s aggression against Ukraine, in order to secure a stable supply of energy, which is the basis of people’s lives and economic activities, and to achieve economic growth at the same time, the following two points are the main measures to be taken. proceed.
(1) In order to secure a stable supply of energy, in addition to thorough energy conservation, promote decarbonization efforts toward GX, such as switching to decarbonized power sources such as renewable energy and nuclear power that contribute to improving the energy self-sufficiency rate.
(2) Realization and implementation of the “Growth-Oriented Carbon Pricing Concept,” including bold upfront investment support using “GX Economic Transition Bonds,” etc., incentives for upfront investment in GX through carbon pricing, and the use of new financial methods to realize GX. to carry out.
3. Related materials
- Basic policy for realizing GX (PDF format: 563KB)
- Outline of basic policy for realizing GX (PDF format: 1,447KB)
- Basic policy reference material for the realization of GX (PDF format: 3,012KB)
Related Links
responsible person
- Environmental Policy Division, Industrial Science and Technology Policy and Environment Bureau Manager Onuki Contact: Okuyama
, Ota, Murakami, Kudo - Agency for Natural Resources and Energy General Affairs Division Strategic Planning Office Director Nishida
Contact: Hikita, Tagiri, Yoshimoto, Takeuchi
Telephone: 03-3501-2669 (direct)
