If it's not the shareholders and not the local government...

... then who is the one who makes the decision about nuclear power?




Utilities defy shareholders' antinuke calls


By KAZUAKI NAGATA and ERIC JOHNSTON

Staff writers


Nine electric utilities held annual shareholders' meetings Wednesday, with antinuclear investors causing a ruckus by pushing them to shut down their atomic plants and increase the use of renewable energy.

Tokyo Electric Power Co. and Kansai Electric Power Co. also faced rare criticism from local governments, which own a considerable stake in the regional power companies and have started scrutinizing their financial structures after the catastrophe at the Fukushima No. 1 nuclear power plant.

"Public confidence in Tepco has been damaged," and the company has to seriously try to change itself, Tokyo Vice Gov. Naoki Inose told the meeting. The Tokyo Metropolitan Government is Tepco's largest stakeholder.

Shareholders voted in favor of the plan to nationalize the utility.

Not a single proposal by shareholders was approved.

Kepco shareholders said no to all 28 motions made Wednesday to shift from nuclear power and fossil fuels to renewable energy, including one backed by the mayors of Osaka, Kobe and Kyoto that would have obliged the utility to eventually abolish its 11 reactors.