Collapse of nuclear power plant financial mythology

Regarding the nuclear damage compensation system in Japan (hereinafter referred to as Compensation System), the following two laws were created in 1961: 'Act on Compensation for Nuclear Damage' and 'Act on Contract for Indemnification of Nuclear Damage Compensation'. Japan's compensation system consists of the Contract of Liability Insurance for Nuclear Damage and the Indemnity Agreement for Compensation of Nuclear Damage. Liability insurance is the part that the private insurance companies undertake and behind it there is an international reinsurance network. The other is a government compensation contract, and up to 120 billion yen of compensation amount is to be issued by either of the private sector or the government. Behind Compensation System and nuclear power insurance, the contradictions of nuclear power generation concentrate. Compensation System holds the unreality that changes impossibility to possibility even from a risk perspective and cost perspective. Nuclear power generation has been promoted by hiding the estimates of damage equivalent to twice the national budget. The present deliberations on revising Compensation System at the Advisory Committee on Nuclear Compensation System of the Atomic Energy Commission have no legitimacy from civil viewpoint. As usual, they are proceeding with the discussions standing on the unreality that we should handle two objectives equally. They are not deliberating reality that damage amount would exceed the amount of compensation. It is necessary to reconsider the structure of the whole Compensation System. Compensation System actually regulates up to the amount of compensation for damage, and nobody has noticed this fact, including the people who promote nuclear power generation and those in critical position. (A.O.)