Fukushima Watch: Power Companies Face the Shareholders via The Wall Street Journal

Japan’s two biggest power companies shrugged off proposals submitted by their largest shareholders at annual meetings Wednesday.

At Tokyo Electric Power Co., operator of the stricken Fukushima Daiichi nuclear plant, the company’s No. 1 shareholder, the district of Tokyo, asked for greater transparency in electricity-rate setting to be written into the corporate charter.

In western Japan, Kansai Electric Power Co.’s biggest shareholder, the city of Osaka, proposed the utility exit from nuclear power completely. JRT readers know Kansai as the operator of the Oi nuclear plant whose reactors are slated for immanent restart. Before last year’s accident at Fukushima Daiichi effectively put the brakes on nuclear-power generation in Japan, the utility depended on reactors for about half its electricity supply.

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