Tepco shares jump after local election seen positive for nuclear plant


Tepco shares jump after local election seen positive for nuclear plant

Shares in Tokyo Electric Power (Tepco) jumped 8 percent at the open on Monday, following the outcome of a local election the day before that is seen as a positive for one of the utility’s nuclear plants

* The victory of Hideyo Hanazumi, backed by the Prime Minister Shinzo Abe’s ruling coalition, in the local Niigata gubernatorial vote is seen as positive for the outlook of Tepco’s Kashiwazaki-Kariwa nuclear plant, local media said

* Abe’s government wants to keep nuclear power as a key part of Japan’s energy policy, but swathes of the public are opposed to atomic power in the wake of the 2011 disaster at Tepco’s Fukushima plant

* Hanazumi’s election provided some relief to people close to Tepco, as his rival candidate, Chikako Ikeda, a former prefectural assembly member endorsed by five opposition parties, was taking a more anti-nuclear stance, media said Read More

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