- Japan’s new Minister of Economy, Yoji Muto, commits to restarting nuclear power plants while increasing renewable energy integration to diversify energy sources and reduce fossil fuel dependence.
- Prime Minister Shigeru Ishiba has shifted from opposing nuclear energy to endorsing a balanced approach, emphasising the importance of hydropower and renewable energy in stabilising costs and meeting decarbonisation targets.
- Japan’s energy strategy aims to cut LNG imports and reduce emissions while potentially easing the European energy market by releasing additional LNG, particularly in light of the ongoing energy crisis linked to the Ukraine conflict.
Japan’s new Minister of Economy, Trade, and Industry, Yoji Muto, reaffirmed its commitment to restarting its nuclear power plants. He also aims to boost the integration of renewable energy sources, which seeks to diversify Japan’s energy portfolio and reduce its dependence on fossil fuels.
Prime Minister Shigeru Ishiba recently took office and changed his stance on nuclear energy. He now supports a balanced approach that combines nuclear and renewable energy. This shift aims to stabilize domestic energy costs and meet the government’s decarbonisation targets.
Before becoming Prime Minister, Ishiba firmly opposed nuclear energy within the Liberal Democratic Party (LDP). However, facing pressing energy and economic challenges, he revised his position. Ishiba now advocates for increased renewable energy generation, including hydropower, while endorsing the restart of safe nuclear plants. This decision highlights Japan’s urgent need to diversify its energy sources and cut reliance on fossil fuel imports.
Japan has restarted 11 nuclear reactors, contributing around 20% of the country’s energy capacity before the 2011 disaster. This restart enables nearly 11 gigawatts of additional electricity generation. Consequently, liquefied natural gas (LNG) imports fell 8% last year, reaching their lowest level in 14 years. However, LNG and coal imports for thermal power generation remain significant, totalling 12.4 trillion yen ($86 billion) and accounting for 11% of Japan’s total imports. Addressing these economic challenges is Prime Minister Ishiba’s priority.
Minister Muto aims to maximise the contribution of renewable energy, comprising over a quarter of Japan’s energy mix in 2023. The primary sources include solar, wind, and hydropower. The government pledged to reduce greenhouse gas emissions by 46% from 2013 to 2030, targeting a renewable share of 36% to 38% in its energy mix. While these goals appear ambitious, they still lag behind those of other G7 nations, such as Germany and the United Kingdom, where renewables will likely dominate by 2035.
Restarting nuclear reactors poses complex challenges. For instance, Tokyo Electric Power Company (TEPCO) seeks local approval to restart the Kashiwazaki-Kariwa plant, the largest in the world. TEPCO must reassure local authorities about safety before proceeding. This situation reflects ongoing nuclear safety concerns in Japan since Fukushima.
The revival of Japan’s nuclear sector may also impact global markets. The International Energy Agency (IEA) suggests restarting Japanese reactors could ease the European energy market by increasing global LNG availability. This move could reduce the risk of energy shortages amid the ongoing energy crisis linked to the conflict in Ukraine. Prime Minister Fumio Kishida noted that restarting a single reactor could free up to one million tons of LNG annually for export.
Additionally, Japan launched the Asia Energy Transition Initiative (AETI). This $10 billion program aims to support decarbonisation across Asia. It seeks to develop technologies like batteries, hydrogen, and ammonia, partnering with countries like Vietnam, Indonesia, and Malaysia. Japan hopes to promote its energy model and export technological expertise to these nations.
Japan’s energy policies will depend on public support and regional governments’ willingness to accept nuclear restarts. The political dynamics within the LDP and the upcoming legislative elections in October 2024 will also play a critical role in shaping the country’s energy strategy. In the long term, Japan appears to be moving towards a balanced energy policy that combines increased renewable energy use with strategic nuclear power to ensure energy security and meet decarbonisation goals.