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Market Chatter: Japan Plans to Replace Up to Five Nuclear Reactors by 2040s to Cut Fossil Fuel Reliance

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Japan intends to replace up to five ageing nuclear reactors by the 2040s to secure stable energy without relying on imported fossil fuels, as many of its current plants near the end of their operational lives, Nikkei Asia reported on Friday.

The Ministry of Economy, Trade and Industry is set to present a revised nuclear policy guideline draft to an advisory body on Friday, and the plan could be formally adopted as early as summer after a public comment period, the news daily said.

The proposal calls for replacing two to five reactors, the upper figure equaling about 20% of Japan's existing capacity excluding units already slated for retirement, and envisions replacing nine more reactors by the 2050s, the publication said.

Under the 2025 cabinet-approved energy plan, nuclear power is targeted to reach 20% of Japan's energy mix by fiscal 2040, up from just 9.4% in fiscal 2024, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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