Kansai Electric Power to Provide JPY5 Billion Annually to Fukui Prefecture and Other Local Governments

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Kansai Electric Power announced on August 25 that, starting in fiscal year 2025, it will provide approximately JPY 5 billion annually, for the time being, as a new funding framework to support regional development and address local issues in areas hosting nuclear power plants. The company reported this initiative to Fukui Prefecture.

Since fiscal 2021, the power company has been participating in the “Co-Creation Conference on the Future of Fukui Prefecture and Nuclear Power Plants Local Governments,” where discussions have taken place on the use of funds for regional revitalization projects such as medical and transportation infrastructure development.

As a concrete step, the company has now established a new framework for regional revitalization that emphasizes objectivity and transparency. While it has previously made donations to municipalities, this new scheme consolidates and significantly expands those contributions. In the first year, fiscal 2025, the company will provide a total of about JPY 20.78 billion, including an initial financial base.

Under the scheme, Kansai Electric Power will establish a trust at a trust bank and contribute funds each fiscal year based on the operational performance of its seven nuclear power plants and actual fuel prices. Fukui Prefecture and the local governments will apply to the trust bank with project plans and requested amounts for regional revitalization initiatives. Donations will be made once a third-party body deems the projects appropriate.