Japan has a 1961 liability law that limits liability of nuclear plant operators in cases of "grave natural disasters." If the strongest earthquake in the nations history, on top of a double tsunami (which had never been documented before Fukushima) don't qualify as "Grave natural disasters," then they need to rename it the Godzilla clause. They are protected from substantial losses, moreso than BP was with the oil spill.
Japanese utilities have regional monopolies due to the fact that Japan is completely lacking in natural resources. Without nuclear power, the country is now forced to import the majority of their fuel, which is why they've run a current account deficit for the past two quarters. The LDP, which just won the general election last month, campaigned on a platform of restarting the nuclear reactors, which TEPCO is expected to do within the next several months.
It's not a different ballgame if you understand the environment in which the firms operate. Japanese electric utilities are to Japan what the banking sector is to the U.S., and TEPCO is the U.S. equivalent of Goldman Sachs with their revolving door of directors and cabinet posts. Graham and Dodd are very much relevant; it's Japan not Bangladesh.
Yeah, it's Japan and not Bangladesh. It's the land of the Kamikaze. Watch this country take out everyone with them.
Yeah, it's Japan where Class A War Criminals get a new lease on life.
Yeah, it's Japan...responsible for the murder of 35 million Chinese and another 23 million ethnic Chinese in Asia...
Yeah, it's Japan with currency fluctuations, huge Political risk with an angry China banging at the door,..
What a laugh, "TEPCO is expected to do (restart the reactors) within the next several months. This TEPCO gang has been documented as criminal liars. They court the hangman.
Tough cookies Japan does not have the capability of being energy self sufficient.It does not give them the right to put nuclear poison in my kid's cornflakes. The whole board of TEPCO needs to be under house/work arrest.