The last several days at the Fukushima Daiichi nuclear plant severely damaged in Japan's March earthquake and tsunami brought reports that the Japanese government may effectively nationalize plant owner Tokyo Electric Power Co.
Recent developments at Fukushima include:
Report: Japanese Government Considering 2/3 Stake in TEPCO
The Daily Yomiuri reported last week that the government planned to take a controlling stake in the utility that owns the damaged plant. The newspaper quoted sources saying the government may invest nearly $13 billion next year in the company, which faces decommissioning costs at Fukushima estimated at nearly $15.5 billion.
Report Slams TEPCO, Government in Accident Prevention and Response
A Japanese government panel issued an interim report Monday excoriating TEPCO and government regulators for their response to the station blackout that led to the crisis.
Based on 456 interviews, the report said TEPCO assumed a tsunami could not reach more than 20 feet high – less than half the height of the tsunami that inundated the plant – even as it ran simulations in 2008 showing a larger tsunami was possible, Japan Today reported.
After the plant lost power, operators lacked training or clear manuals to deal with multiple, coincident system failures. At one point, operators of unit 1 believed its isolation condenser was operating when it was not, delaying the decision to cool the reactor by alternative means by 12 hours.
Similar mistakes delayed cooling at other reactors, as well, potentially worsening core damage. What's more, Japanese regulators on site initially abandoned Fukushima early in the crisis, and the report indicated they could offer little assistance when forced to return.
A final version of the report is due in the middle of 2012.