logo
Kansai Electric to start surveys for new nuclear power reactor in Mihama

Kansai Electric to start surveys for new nuclear power reactor in Mihama

Reuters22-07-2025
TOKYO, July 22 (Reuters) - Kansai Electric Power (9503.T), opens new tab will begin surveys for the construction of a new nuclear power reactor at its Mihama power station in Fukui prefecture, western Japan, to replace the existing facility, the company said on Tuesday.
The decision marks Japan's first concrete step towards building a new nuclear reactor since the Great East Japan Earthquake in 2011 triggered a meltdown at Tokyo Electric Power's <9501.T> Fukushima plant, leading it to be shut down.
Japan remains heavily dependent on fossil fuel imports, and the government wants nuclear power to contribute more to the country's energy security. Kansai Electric is currently Japan's biggest nuclear operator based on the number of reactors online.
The surveys would focus on topography, geology and other studies and would include communications with local residents, the company said.
"Given overall cost performance, plant operation, and compliance with new regulations, we consider the SRZ-1200 advanced light water reactor the most realistic option," Hiroaki Kitaura, a chief manager of Kansai's nuclear power division, told a briefing.
Mitsubishi Heavy Industries (7011.T), opens new tab is working with four utilities, including Kansai Electric and Hokkaido Electric Power (9509.T), opens new tab, on the basic design of the reactor type.
Kansai Electric provided no construction cost estimate, but Kitaura said funds will be raised through bonds, loans, and other means as appropriate, adding that no equity issuance was currently being planned.
The company had been analysing a successor to the Mihama No.1 reactor since November 2010, but suspended the study after the 2011 disaster. In 2015, it decided to decommission the No.1 and No.2 reactors at Mihama.
"With a significant loss of nuclear power supply expected, it is necessary to rebuild with next-generation reactors, based on the premise of ensuring safety and gaining local understanding, to secure decarbonised power sources," Japan's Economy, Trade and Industry Minister Yoji Muto said on Tuesday.
Japan currently operates over a dozen reactors, with a combined capacity of around 12 gigawatts. Many are undergoing relicencing to meet stricter safety standards implemented after the Fukushima disaster. Before 2011, Japan operated 54 reactors.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Coterra Energy beats profit estimates on strong output, higher gas prices
Coterra Energy beats profit estimates on strong output, higher gas prices

Reuters

time3 hours ago

  • Reuters

Coterra Energy beats profit estimates on strong output, higher gas prices

Aug 4 (Reuters) - Coterra Energy (CTRA.N), opens new tab beat Wall Street estimates for second-quarter profit on Monday, as higher production and a rebound in U.S. natural gas prices offset weaker oil prices. Shares of the company rose 1.3% in after-hours trading. The Houston-based shale producer saw increased output across the Permian and Anadarko basins, with total production rising 17% to 783,900 barrels of oil equivalent per day (boepd) in the quarter. While gains from production helped lift results, they were partially offset by weaker crude prices, with the average benchmark Brent crude price falling over 20% from a year earlier amid U.S. tariffs, weak global demand and increased supply from OPEC+ producers. Coterra's average realized price for oil — the price it received for each barrel produced — fell to $62.80 per barrel, from $79.37 per barrel last year. Meanwhile, a rise in U.S. natural gas prices helped cushion the impact of weak oil prices. The company's average realized prices for natural gas jumped over 74% to $2.20 per thousand cubic feet (Mcf) in the second quarter. Coterra also announced a new supply agreement to deliver 50 million cubic feet of natural gas per day to the CPV Basin Ranch Energy Center — a proposed 1,350 megawatt combined-cycle natural gas power plant — under a seven-year deal beginning in 2028. The facility is being built in the Permian Basin, and the deal marks Coterra's first supply deal in the top U.S. oil patch, as the company looks capitalize on growing demand for natural gas. Coterra posted an adjusted profit of 48 cents per share for the three months ended June 30, compared with analysts' estimates of 45 cents per share, according to data compiled by LSEG.

Coterra Energy beats second-quarter profit estimates on higher gas prices, strong output
Coterra Energy beats second-quarter profit estimates on higher gas prices, strong output

Reuters

time3 hours ago

  • Reuters

Coterra Energy beats second-quarter profit estimates on higher gas prices, strong output

Aug 4 (Reuters) - Coterra Energy (CTRA.N), opens new tab beat Wall Street estimates for second-quarter profit on Monday, as higher production volumes and a rebound in U.S. natural gas prices offset weaker oil prices. The Houston,Texas-based shale producer benefited increased output across the Permian and Anadarko basins. Total production rose to 783,900 barrels of oil equivalent per day (boepd) during the second quarter, from 669,200 boepd. While gains from production helped lift results, they were partially offset by weaker crude prices, with the average benchmark Brent crude price falling over 20% from a year earlier amid U.S. tariffs, weak global demand and increased supply from OPEC+ producers. Coterra's quarterly results were also cushioned by a rise in U.S. natural gas prices , which have rebounded from multi-year lows reached last year, buoyed by record flows to liquefied natural gas export facilities and rising electricity consumption. The company said its average realized price for oil — the price it received for each barrel produced — was $62.80 per barrel while average realized price for natural gas was $2.20 per thousand cubic feet (Mcf) Coterra posted an adjusted profit of 48 cents per share for the three months ended June 30, compared with analysts' estimates of 45 cents per share, according to data compiled by LSEG.

Shale producer Diamondback misses estimate for profit on lower crude prices
Shale producer Diamondback misses estimate for profit on lower crude prices

Reuters

time3 hours ago

  • Reuters

Shale producer Diamondback misses estimate for profit on lower crude prices

Aug 4 (Reuters) - Diamondback Energy (FANG.O), opens new tab missed analysts' estimate for second-quarter profit on Monday, as the shale producer took a hit from a decline in crude prices. Brent crude averaged 20% lower in the quarter from a year earlier, pressured by U.S. tariffs and their impact on global growth, OPEC+ supply gains and geopolitical tensions. Prices briefly topped $80 per barrel after Israel targeted Iran's nuclear sites in June, but slid to $67 by the end of the period. Diamondback said its average realized crude price, excluding hedges, for the quarter stood at $63.23 per barrel, down from $79.51 per barrel last year. The Midland, Texas-based company posted an adjusted profit of $2.67 per share for the three months ended June 30, compared with analysts' average estimate of $2.82, according to data compiled by LSEG.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store