Tepco rallies as election result sparks hope for nuclear power restart

|By:, SA News Editor

Tokyo Electric Power (OTCPK:TKECF, OTCPK:TKECY) jumps as much as 8.8% after a candidate backed by Prime Minister Abe's ruling coalition was elected governor of Japan's Niigata prefecture.

Traders see the vote as positive for Tepco's Kashiwazaki-Kariwa nuclear plant, which was shut down during the Fukushima disaster in 2011, after the previous governor had opposed restarting the site's seven reactors, which is crucial to Tepco's recovery plans.

The restart of the seven reactors was approved by Japan's Nuclear Regulation Authority in 2017.

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