Japan has estimated that the accident-related costs for a model nuclear power plant would be some JPY5.7 trillion ($74 billion), or half a yen ($0.65) per kWh, according to a report from the Japan Atomic Industrial Forum’s Atoms in Japan news service.
The estimates were put together at the sixth meeting of a committee under Japan’s ministerial Energy and Environment Council, which discussed the costs of dealing with future nuclear power risks, JAIF said.
The JPY 5.7 trillion cost of a typical accident would increase by nine-hundredths of a yen ($0.12) for each additional JPY1 trillion ($13 billion) of damage, the committee found. Calculations were made based on the example of Fukushima Daiichi nuclear accident in March 2011.
The calculation was based on mutual assistance system to be organized by Japanese nuclear operators over the 40-year operating period of each reactor, JAIF said. The committee concluded that, at present, private insurance contracts could not be implemented to cover the costs, as the frequency of accidents would be very low with immense losses.
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