TEPCO to cut costs, investments

TEPCO should just close shop if it cannot manage the Fukushima crisis.

TEPCO and cost cutting in the same sentence gives me the collywobbles. Can regulation of TEPCO be trusted? Can the public at large have confidence in TEPCO's governance?

Agree w/ the new agency, disagree w/ the public coffers - there's a reason why privatization works and is common in the world apart from the economic benefits, though this may be overshadowed by TEPCO's negligence.

I thought the government approved a bill that will set some form of liberalization to the retail electricity market? Would this help?

Consumers would be able to have a choice of power suppliers, and perhaps be able to choose a non nuclear option if commercially available.

You guys (Ryuusei, itsonlyrocknroll) seem to think that for-profit utilities are the way to go. Do you think that public safety improves when the bottom line becomes top priority? I'm not so confident.

@ taj.

Japans Independent Nuclear Safety Commission needs to be fully independent.

'Commissioners are appointed by the Prime Minister of Japan on Diet approval', (scraped from wiki) doesn't inspire confidence.

Crucially the entire industry needs fully transparent regulation, but most of all full public support and approval. Restrictive practices, and cartelism is another danger if the regulator is not provided with legislative statutory authority, and is able to publish the pricing structure offered to the consumer for the services provided.

Infrastructure investment and the capacity to deliver energy security must be built into the contractual obligation. For integrity of the energy industry as a whole, the regulator must be afforded the power to cap or set prices, and powers of restructure to prevent profiteering.

liberalization can work utilities are fully accountable.

Do you think that public safety improves when the bottom line becomes top priority?

No I certainly don't believe this,

public safety must and always come first above any other priority, the Safety Commission must have the power to terminate a contract and prosecute with the sanction of imprisonment if safety standards fail to be met.

TEPCO cost-cutting is what got us all into this mess in the first place. I'd be very wary of how they intend to cost-cut this time. I agree with Zichi. TEPCO must be sold to a more responsible and accountable entity.

But who would be interested in buying TEPCO?

@taj

I'm calling for more oversight/scrutiny, not advocating a purely for-profit company. You need top talent working for TEPCO, and we all know public agencies don't attract as much top talent as a private firm.

You can't argue that money DOESN'T make the world go around - if TEPCO was nationalized and resulted in a money drain, you can bet that they will cut costs, most likely less efficiently since they won't understand the dynamics of the company as well as someone who's worked there for many years.

Nationalisation, hells teeth, the ultimate socialist weapon of choice, by the people for the people, state controls, lack of transparency.

TEPCO safety in the hands of government bureaucrats.

never forget the old adage:

Socialism, you have two cows, state takes one and give it to someone else. Communism, you have two cows, state takes both of them and gives you milk. Bureaucracy you have two cows. state takes both of them, kill one and spills the milk down the sewage system. Capitalism, you have two cows, you sell one and buy a bull.