Tokyo, February 6, 2013 – The value of Japan's energy utilities, which slumped in the aftermath of the Fukushima nuclear disaster, will fall further if the companies continue to ignore major changes in market forces and regulations, a new Greenpeace report warns.
"The Fukushima disaster has broken the back of the traditional energy industry in Japan. The combination of the three main challenges our report highlights, aggravated by shrinking electricity demand and volatile coal, oil and LNG prices can stifle recovery if the utilities don't quickly adapt their business models," said Gyorgy Dallos, Greenpeace International energy investments advisor.
Published today, the Greenpeace report notes that the share prices of Japan's 10 major utilities plummeted after the Fukushima disaster and have not recovered. Fukushima nuclear plant owner TEPCO lead the decline, while the shares of non-nuclear Okinawa Electric Power fell the least.
Despite the victory of the pro-nuclear LDP party at the national election in December, utility share prices were still 22-89% below March 2011 levels on February 1, 2013, significantly underperforming Japan's benchmark Nikkei 225 Index, which has recovered to above pre-Fukushima levels.
The report is available at www.greenpeace.org/international/en/publications/Campaign-reports/Nuclear-reports/BeyondNuclear/
Greenpeace is an independent global campaigning organisation that acts to change attitudes and behaviour, to protect and conserve the environment, and to promote peace.
Greg McNevin, Greenpeace International Communications,
, +81 80 5416 6507
Yuki Sekimoto, Greenpeace Japan Communications,
, +81 80 5088 3048