Tohoku Electric Shelves Plan to Build Nuclear Plant in Fukushima
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Tohoku Electric Power Co., power supplier to the areas most devastated by 2011’s quake and tsunami, scrapped plans to build a new nuclear power plant in Fukushima prefecture amid opposition from local towns.
The Miyagi-based utility widened its net loss forecast for the year ending March 31 to 105 billion yen ($1.1 billion) from an earlier projection of 100 billion yen after dropping the 825 megawatt Namie-Odaka plant, it said in a statement today. The company will book about 18 billion yen as a one-time charge for this fiscal year because of the cancellation, it said.