1) The total amount they've borrowed due to the accident isn't even close to $100B.
2) What they have borrowed is financed at less than 1% interest. Considering they generate about $4B in FCF per year, it's not exactly a crippling amount.
Someone help refresh my memory. When is the holding company event scheduled to take place? 2015? 2016?
i am concerned that the holding company structure will wipe out current equity holders....that's what happened with the banks that went under in 2008.
Anyone else know more details about this?
I'm disappointed too. This is going to be a long game it seems. I'm sure the NRA is very cautious about penning a signature to a return to service letter. They are probably getting heat from the utility, the politicians and the anti-nuclear forces.
The rally was last year and it has drifted down. My guess would be people in the profit category decided to go ahead and cash out rather than wait. A reasonable strategy I would think.
The test may be what the stock does if any of the plants get a restart approval.
Good luck to us all!
I guess I am just really disappointed and frustrated at how long they are taking. I would bet that Abe himself is frustrated given that the delays in restarting the nuclear power plants are hindering his plans for the economy as well.
And it's been quite a while since we last saw any rally in TEPCO to near anywhere near 800 yen. In the last two years, there had been one such rally each year, but iirc, there hasn't been one this year so far.
Frankly, the NRA reminds me very much of US NRC. I shouldn't be surprised, after all, the NRA was modeled after the AEC/NRC.
We would be losing $1M a day due to a regulatory infraction at our plant during the summer generation season and even after we had demonstrated complete show-cause as to why we should be allowed to restart the NRC would take months to get around to a final review and disposition.
All I can say that's positive about this is that if the price gets near $3 I will buy more.
Yea that's bad news for all the holders of Japan power companies. It means that this entire year might turn out to be a complete blank and this means the NRA would have dragged the restart by nearly two years. How incompetent and inefficient can they possibly get.
And still no news on TEPCO's status..
Pushed back, just got this today:
TOKYO Aug 6 (Reuters) - The long-awaited restart of Japan's nuclear power plants is facing yet another setback and may be delayed until 2015, Japanese media said on Wednesday, piling pressure on struggling utilities to push for fresh price hikes.
Kyushu Electric Power's two-reactor Sendai plant, located about 1,000 km (600 miles) southwest of Tokyo, is likely to be the first nuclear plant to be allowed to restart under tough new safety regulations after the 2011 Fukushima crisis.
The Sendai plant cleared the Nuclear Regulation Authority's (NRA) initial safety hurdle last month, but the utility was supposed to hand in additional, detailed paperwork on specific safety features at the site and how they planned to construct them.
Japan's public broadcaster NHK and other media said that Kyushu Electric said documentation issues meant final deliberations on the restart would be pushed back by the regulator, delaying the restart until after winter.
A Kyushu Electric spokeswoman said that the company does not have a timeline for starting up the reactors and confirmed comments by an executive that submission of additional documents may be delayed until late September or even October.
Strangely, I don't recall reading about the status of the safety checks of TEPCO's nuclear power plants that's under review. There's news about Kyushu's obviously, Kansai Electric, but given the high profile nature of TEPCO, I'm surprised that there's literally no updates be it good or bad.
I wouldn't expect TEPCO to receive approval until early 2015. While it is taking longer than expected, as the original plan was for them to restart only 2 of the 7 reactors, this extra delay may give them the opportunity to restart more than the 2 initially planned, which would be awesome.
Next to follow is supposed to be Kansai Electric and even then it's unknown whether Kansai Electric will get its reactors restarted before the year ends. TEPCO is gonna have to wait till next year.. This is really one long wait, far longer than I had originally planned for.
Finally! Waited an extra year....
(Reuters) - A nuclear plant in southern Japan cleared an initial safety hurdle on Wednesday which could see it become the first nuclear facility to restart after the industry was idled by the 2011 Fukushima disaster.
With Japan in its first summer without nuclear power in four decades, Prime Minister Shinzo Abe is pushing to restart the country's 48 nuclear reactors, as a prolonged shutdown forces the nation to rely on expensive fossil fuel imports.
The Nuclear Regulation Authority gave preliminary safety approval for Kyushu Electric Co's Sendai plant, accepting its upgraded design and safety features.
Sentiment: Strong Buy