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Japan Says Nuclear Power Cost May Be 50% Higher Than Estimated

Nuclear power generation in Japan is about 50 percent more expensive than estimated after factoring in the cost of paying for an accident like the Fukushima disaster, a government panel said.

Nuclear energy costs at least 8.9 yen (11 cents) per kilowatt hour, compared with a government estimate of 5.9 yen in 2004, the panel said in a draft report today. Coal is estimated to cost 9.5 yen per kilowatt hour, while liquefied natural gas and oil cost 10.7 yen and 36 yen respectively.