Japan plans to prioritise nuclear power in an upcoming energy policy update, aiming for a stable electricity supply amidst rising demand and geopolitical risks. The nation pledged to achieve net-zero carbon emissions by 2050 and decreased its dependency on nuclear power in the aftermath of the 2011 Fukushima accident. The country is getting 70% of its power from fossil fuels.
However, now everyone is turning their eyes to energy security because of the coal and gas price spikes in 2022, which were made worse by Russia’s war in Ukraine. Along with solar and wind power, the government is currently trying to increase nuclear power consumption.
Alex Whitworth, vice president at Wood Mackenzie said, “The focus has shifted from carbon emissions to energy security.”
Fossil fuel exporters such as Indonesia, the US, Australia, and Qatar will also be affected by Japan’s growing nuclear power. Japan’s energy policy is revised every three years and last month, discussions on the next revision began.
For 2040, Japan’s nuclear energy targets, which range from 20% to 22% in 2030, remain unclear, but energy corporations are pushing for more nuclear power to meet growing electricity demands and reduce geopolitical risks.
