Legacy of Fukushima nuclear meltdown 10 years on

On the 10^th anniversary of the meltdown at Fukushima Daiichi nuclear power station, we take a closer look at the disaster’s lasting legacy of higher electricity prices. On the eve of the pandemic electricity prices were 32% above where they were in February 2011 despite energy import prices falling over the same period. That has prompted firms and consumers to sharply economise their electricity usage. One positive consequence of such a shift is that Japan’s economy is now less sensitive to oil price shocks. As such, even if the rise in oil prices over the last few weeks continues, we doubt it would hold back Japan’s recovery much.