Priorities of energy policy of Japan under Abenomics

Since the 1990s, the energy policy of Japan has been driven by 3 main priorities: enhancing energy security, protecting environment, and improving energy efficiency. Balancing these 3 elements is not an easy matter. The Strategic Plan of Energy 2010 confirmed these objectives. Responsible for its establishment METI assumed promotion of nuclear power generation that covered building 9 new or additional nuclear plants. The accident at the Fukushima power plant opened discussion on the new Japan’s energy policy. In April 2014, the LDP government of Prime Minister Shinzō Abe adopted an updated Strategic Energy Plan aimed at reducing reliance on nuclear power. This should be referred to “Abenomics,” ie a term used to call an approach proposed by Shinzō Abe to end 20 years of creeping deflation and put Japan back on a path of economic growth. Due to the importance of energy sector for growth agenda combined with the energy problems of Japan Abenomics influences energy industry. The government must reconcile the fear of nuclear energy after Fukushima incident with economic situation of the country. Shinzō Abe has a plan in this respect.