Kyushu Electric Rises Before Reactor Safety Report: Tokyo MoverJacob Adelman
Kyushu Electric Power Co. rose for a second day, reaching its highest level in almost four months, as Japan’s atomic regulator prepared to release a safety report that may enable the restart of the utility’s two reactors.
Japan’s Nuclear Regulation Authority planned to present a draft report on the safety of Kyushu Electric’s No. 1 and No. 2 reactors at its Sendai plant in southern Japan when it holds its regular weekly meeting tomorrow, according to an e-mailed notice.
The regulator plans to compile a final report after seeking public comment, a process that would take more than a month, spokesman Tadashi Yamada said in an e-mail. The units may resume operation by fall, the Nikkei newspaper said today.
Kyushu Electric shares rose as much as 3.4 percent today in Tokyo to 1,282 yen, their highest level since March 18. They were up 1.1 percent at 1,253 yen as of 10:21 a.m.
Hokkaido Electric Power Co., which has reactors being evaluated by the regulator with a design similar to Kyushu’s, rose as much as 4.4 percent to 936, their highest since March 19. They were up 0.9 percent at 905 yen as of 10:36 a.m.