Japan maintains an energy policy focused on supporting nuclear energy and renewable energy sources

Japan intends to continue restarting nuclear power plants and expanding renewable energy capacity, its new industry minister said Wednesday, signaling that the new government will not significantly change the country’s current energy policy.

“We can make the most of renewable energy and, if possible, we will restart nuclear energy, the safe one,” Industry Minister Yoji Muto, appointed by new Prime Minister Shigeru Ishiba, told reporters, Reuters reported.

Ishiba, who won the leadership race of the ruling Liberal Democratic Party and became the new prime minister by default, opposed a nuclear revival early in his campaign.

However, Ishiba stopped calling for an end to nuclear power shortly after winning the race to become Japan’s next prime minister.

Japan is now restoring nuclear power as a key energy source in a bid to protect its energy security in the wake of an energy crisis that has led to a sharp rise in fossil fuel prices.

The resource-poor country, which must import around 90% of its energy needs, made a U-turn in its nuclear energy policy in late 2022 as its energy import bills soared in the face of the energy crisis and rising costs of LNG imports after record high prices.

Currently, fossil fuels produce about 70% of Japan’s electricity, which would run counter to its net-zero emissions goal.

Earlier this year, a government forecast showed that Japan would need to increase electricity production by 35-50% by 2050 to meet the commensurate increase in demand.

In May, Japan launched the most important energy policy discussions in its post-World War II history, aiming to strike a balance between the need to enhance its energy security through conventional sources and its commitment to transforming into a net-zero economy by 2050.

Author: Tsvetana Paraskova for Oilprice.com

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