Aug 16, 2014

Japan's nuclear shutdown continues to cost $35.2 billion per year and means 26% more fossil fuel

Japan's ongoing reliance on imported fossil fuels while its nuclear reactors await permission to restart continues to impact on the country's greenhouse gas emissions and trade deficit.

Japan depended on imported fossil fuels for 88% of its electricity in fiscal year 2013, compared with 62% in fiscal 2010, the last full-year before the March 2011 accident at the Fukushima Daiichi plant. With almost its entire nuclear fleet offline, Japan reliance on fossil fuels peaked in fiscal year 2012 at 92.2%.

The additional fuel costs that Japan faced in fiscal 2013 to compensate for its nuclear reactors being idled was ¥3.6 trillion ($35.2 billion). Japan reported a trade deficit of ¥11.5 trillion ($112 billion) for the year, largely directly and indirectly due to these additional fuel costs. This compares with trade deficits of ¥6.9 trillion ($68 billion) in 2012 and ¥2.6 trillion ($25 billion) in 2011, following a ¥6.6 trillion ($65 billion) surplus in 2010.

Read more at Next Big Future