Japan is poised to increase its reliance on nuclear power in its upcoming energy policy update, as the country seeks to ensure a stable electricity supply in the face of growing demand and heightening geopolitical risks.
After the Fukushima disaster in 2011, Japan had significantly reduced its dependence on nuclear power, opting for a greater use of fossil fuels, which now account for 70% of its electricity generation. However, the recent spikes in coal and gas prices, as well as supply disruptions caused by Russia’s war in Ukraine, have prompted the government to prioritize energy security over carbon emissions reduction.
According to industry experts, the emphasis has shifted from carbon emissions to energy security, which has become an even more pressing concern for Japan, the world’s second-biggest importer of liquefied natural gas (LNG) and a major buyer of thermal coal.
Discussions on Japan’s energy policy, which is revised every three years, began last month. This will be the first revision since Prime Minister Fumio Kishida shifted the country’s stance to favor nuclear power in 2022.
“The overwhelming majority of the members of the panel that debates the policy are pro-nuclear, and the new policy may include building new reactors,” said Takeo Kikkawa, president of the International University of Japan.
Any move to boost nuclear power in Japan will have significant implications for exporters of fossil fuels, including Australia, Qatar, the United States, and Indonesia, as Japan’s increased reliance on nuclear energy will likely lead to a decrease in its demand for LNG and thermal coal.
Experts suggest that while Japan’s push for more nuclear power is aimed at securing a stable electricity supply, the country may still struggle to meet its ambitious targets, as the process of restarting and building new nuclear reactors can be lengthy and challenging.