• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 1 hour Saudi Arabia turns to solar
  • 5 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 21 hours Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 15 hours Could oil demand collapse rapidly? Yup, sure could.
  • 10 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 3 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 16 hours Gazprom Exports to EU Hit Record
  • 16 hours OPEC Meeting Could End Without Decision - Irony Note Added from OPEC Children's Book
  • 5 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 12 hours U.S. Withdraws From U.N. Human Rights Council
  • 20 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 14 hours What If Canada Had Wind and Not Oilsands?
  • 14 hours "The Gasoline Car Is a Car With a Future"
  • 1 day EVs Could Help Coal Demand
  • 9 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 15 hours Sell out now or hold on?
Russia Gears Up To Boost Oil Production In July

Russia Gears Up To Boost Oil Production In July

According to export schedules and…

Serving The 2 Billion Unbanked: A New Trillion Dollar Market

Serving The 2 Billion Unbanked: A New Trillion Dollar Market

Fintech, alongside blockchain, has been…

Abe Announces $302 Billion Plan to Restructure Japan’s Electricity Industry

Japanese Prime Minister Shinzo Abe dealt a blow to the countries utility companies as he announced on Wednesday that he supports a new plan to invest 30 trillion yen ($302 billion) into Japan’s electricity industry to boost competition, and renewable energy installations. He also made no mention of whether or not nuclear power plants will be restarted anytime soon.

This plan to restructure the power generation business poses a threat to utilities, who had been hoping that nuclear power plants would be given the go ahead to restart.

Bloomberg notes that “Japan’s 10 regional power companies own more than 70 percent of the nation’s generation capacity and control transmission and distribution networks.” So talk of increased competition is worrying news for their investors.

Related Articles: Ikeuchi Towel, First Japanese Firm to Obtain 100% Energy from Wind

Abe explained that “for 60 years after the war (WWII), one giant power company in each region has dominated from power generation to transmission to retail. The times are changing. We are in the age where consumers themselves produce power.”

Share values for Japanese utility companies fell for the second day in a row on Thursday, after the announcement. Shares in Tokyo Electric Power Co., which owns the Fukushima Daihatsu nuclear power plant, fell 7.4% on Thursday, after falling 16% the day before. Shikoku Electric Power Co. Inc., Hokkaido Electric Power Co. Inc., Kansai Electric Power Co. Inc., Tohoku Electric Power Co. Inc. also fell for the second day in a row.

On the other hand, smaller energy companies such as Marubeni Corp. and Softbank Corp., who are planning to invest in renewable energy projects, are likely to benefit greatly from the new reforms.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News