The directors of Japan's Chubu Electric Power Co. failed Saturday to reach a decision on suspending the Hamaoka nuclear power plant, meeting participants said.
Chubu officials said the board decided to hold off on the matter because members wanted more time to consider the high-stakes question. The Kyodo news agency said the Hamaoka plant supplies nearly 12 percent of the company's power output or 3.6 million kilowatts. Prime Minister Naoto Kan has asked Chubu to suspend operations for safety reasons.
"The board discussed a broad range of issues ranging from the ability to meet energy demand this summer with alternative methods, the impact on the company's financials, to tsunami preparations at the nuclear plant," Chubu said in a written statement. "However, due to the potential widespread impact on our customers and shareholders, we have decided to continue our discussions at a later time."
Kyodo said replacing the lost nuclear generation, including summer air-conditioning demand, would cost another $8.6 million per quarter. Hamaoka is located in Shizuoka prefecture near an earthquake fault; however, the plant has passed all current safety inspections, which precludes Kan from ordering the plant shut down, The Wall Street Journal said.
Source: iWireNews
