Japan Revives Nuclear Power – WSJ

Mr. Kishida is trying to reverse the political overreaction against nuclear power after the 2011 earthquake and tsunami that triggered a disaster at the Fukushima nuclear plant. That crisis exposed close ties among utilities, nuclear construction firms and regulators—a ménage known as the “nuclear village”—that may have compromised safety.

This explains the current round of inspections, and the burden will be on Mr. Kishida to show voters the government has learned its regulatory lessons. Japanese might also want reassurance that this won’t become a subsidy bonanza as nuclear can sometimes be.

As hard as the politics will be, however, Japan has little choice. Japan must import almost all of its coal, oil and natural gas, and the Russian invasion of Ukraine has sent global prices skyrocketing while setting off competition for supply. Japan’s electric grid has barely avoided blackouts this year. The economic costs of chronic energy shortages are starting to loom larger politically than the drawbacks of a nuclear restart.

Perhaps Japan’s decision will get through to Germany, which also started phasing out nuclear after Fukushima and is now mired in a debate about keeping its three remaining reactors online. This should be an easy call as natural gas shortages loom this winter. Advanced economies need reliable base load power, and at least Tokyo understands this.