|
. | . |
|
by Staff Writers Tokyo (AFP) Oct 31, 2014 The operator of Japan's crippled Fukushima nuclear power plant posted a solid mid-term pre-tax profit Friday, despite not restarting idle nuclear reactors or hiking electricity rates. The striken Tokyo Electric Power Co. (TEPCO) refrained from making full-year projections, saying it is difficult to do so while its workhorse nuclear plant remains offline following the March 2011 earthquake-tsunami disaster. TEPCO said it chalked up a group pre-tax profit of 242.8 billion yen ($2.23 billion) in the April-September period, up 71.4 percent from a year earlier. It attributed the solid result to postponed construction of power plants and cuts in manpower and material costs. Its revenue rose 3.7 percent to 3,334 billion yen despite a decline in the volume of electricity sales in an unusually cool summer. But TEPCO declined to predict earnings for the year to March 2015 as its Kashiwazaki-Kariwa nuclear power plant in Niigata also remains offline and the effects of its cost-cutting efforts remained to be seen. The utility giant had initially projected that its annual group pre-tax profit would reach 167.7 billion yen if some of the plant's seven reactors were refired in July. TEPCO was forecast to book a pre-tax profit of 130 billion yen for the full year, topping 100 billion yen for a second straight year, Kyodo news agency said last week. In the year to March 2014, TEPCO posted a pre-tax profit of 101.42 billion yen against a loss of 326.96 billion yen the previous year. The utility had warned it would suffer a 15 billion yen pre-tax loss if the plant remained idle and electric rates stayed unchanged. A massive earthquake and tsunami wrecked Fukushima's cooling systems in March 2011, sparking off reactor meltdowns and radiation leaks. Japan shut down all 48 of its reactors in the wake of the Fukushima crisis, the worst nuclear accident since the 1986 Chernobyl disaster. The government and power utilities would like to fire some of them up again despite public uneasiness. The reactors would have to clear tough safety requirements introduced after the Fukushima crisis. The government has poured billions of dollars into TEPCO to keep the company -- that supplies electricity to Tokyo and its surrounding area -- afloat as it stumps up cash for decommissioning the reactors, cleaning up the mess from the 2011 disaster and paying compensation.
Related Links Nuclear Power News - Nuclear Science, Nuclear Technology Powering The World in the 21st Century at Energy-Daily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service. |