The utility has put the blame for this decision on a lacklustre economy and the Japanese Government’s decision to deregulate the industry.
In a statement to the media, TEPCO said, “[We are] postponing construction of two reactors at the Fukushima No. 1 nuclear power plant in Fukushima Prefecture by one year and the other two at the Higashidori plant in the village of Higashidori in Aomori Prefecture by one year and three years.”
“[These steps are] in response to an expected levelling off of electric power sales due to the anaemic economy and intensifying competition in the deregulated power industry,” added the company, which predicted its power sales to only grow at an average rate of 1.3% in volume over the next decade.
TEPCO also mentioned that it will be limiting its capital outlay for the fiscal 2004 year starting 1 April. The US$5.4 billion outlay is TEPCO’s lowest in 30 years.
