Abe’s Power Plan Lifts Renewables at Utilities Expense

Shinzo Abe’s pledge to spur 30 trillion yen ($302 billion) of investment in Japan’s electricity industry opens the way for a surge in clean energy projects at the expense of traditional utilities.

The prime minister endorsed proposals to deregulate an industry that produces power mostly from fossil fuels, as well as boost competition among generators and make it easier for wind and solar energy to be distributed to consumers. His speech yesterday in Tokyo didn’t mention restarting nuclear plants closed since the earthquake in 2011.