Japanese Anti-Nuclear Candidate’s Victory Punishes Tepco Shares via Bloomberg News

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Tokyo Electric Power Co. Holdings Inc. fell the most since June after the election victory of a gubernatorial candidate opposed to the restart of the utility’s Kashiwazaki Kariwa nuclear plant, the world’s biggest by capacity.
rime Minister Shinzo Abe’s government has supported the revival of Japan’s nuclear fleet, which has been kept almost entirely shut by new safety regulations and public opposition following the 2011 Fukushima disaster. About 64 percent of voters in Niigata prefecture oppose returning the Kashiwazaki Kariwa plant to normal operations, according to a poll conducted by Kyodo News on election day.

The Kashiwazaki Kariwa plant was one of the key issues in the race to replace Hirohiko Izumida, a fierce critic of Tepco following the Fukushima disaster. The utility’s shares surged the most in more than a year after he unexpectedly announced in August that he wouldn’t seek a fourth term.
Yoneyama had pledged to carry out Izumida’s policy of pushing for a thorough review of the Fukushima accident before starting discussions on the restart of the Kashiwazaki Kariwa plant.
The Japanese government maintains its policy of bringing back online nuclear plants that have met the Nuclear Regulation Authority’s safety standards, Chief Cabinet Secretary Yoshihide Suga told reporters in Tokyo on Monday. The government also wants to proceed with the plan while seeking approval from local authorities, he said.

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