Power Business: Power and Business

power business: Prime Minister Shinzo Abe has long taken the initiative to promote the overseas sale of Japanese nuclear power plants through top-level diplomacy, according to The Japan Times. However, the nuclear power plant business cannot be a part of the nation's growth strategy if its business feasibility is in doubt. Hitachi cited its judgments on the economic rationality of the U.K. project as the reason for halting the plan an allusion to the declining profitability of the nuclear power business due chiefly to the surging cost of safety investments in the wake of the 2011 meltdowns at Tokyo Electric Power Company Holding's Fukushima No. 1 nuclear power plant. The government and related industries need to face up to the situation surrounding the nuclear power business which continues to face difficulties domestically as well and reassess the way forward. ; The Fukushima nuclear disaster, triggered by the March 2011 Great East Japan Earthquake and tsunami, has radically changed the global nuclear power market landscape. The cost of Hitachi's project to build the two reactors in Anglesey, Wales, which began in 2012, has ballooned from the initial estimate of 2 trillion to 3 trillion. The cost of nuclear power, which had been promoted as a relatively inexpensive and clean source of energy that does not emit carbon dioxide, spiked as additional safety investments inflated plant expenses. (news.financializer.com). As reported in the news.