Japanese economy under huge pressure after shutting down all nuclear power plants

The Japanese economy has been experiencing huge pressure due to the gigantic misbalance of the energy industry after all the nuclear power plants in the country were shut down, BelTA learned from Alexander Ignatyuk, head of the analysis department of the Investment Group Energocapital.

The decision to shut down all the nuclear power plants instead of going ahead with the profound modernization of their safety systems has brought about a major crisis of the production sector. Without restarting the existing nuclear reactors the Japanese production sector will be unable to reacquire the vivid competitive edge it had prior to 11 March 2011.

There is no doubt that the accident at the Fukushima nuclear power plant has had an effect on the global nuclear market. Among other things the competition of technologies used to ensure the safe operation of nuclear reactors is now tougher. In the long term the effect can be considered as positive.

In particular, the high effectiveness of Russian multilayer safety systems has allowed the Russian state corporation Rosatom to greatly increase the portfolio of foreign orders. In late 2014 the ten-year portfolio of foreign orders exceeded $100 billion. New products enjoy strong demand. For instance, Russia will partner with Japan in developing environmental recovery programs after the accident at the Fukushima nuclear power plant.