JISF Chairman Requires Flexible Renewable Energy Purchasing System

Japan Iron and Steel Federation’s chairman Mr. Eiji Hayashiada said on Friday steel industry including heavy power consuming industry electric furnace steel makers acclaim system for purchasing renewable sources with relief for heavy consuming sector. Mr. Hayashida also required flexible relief for various industries.

Mr. Hayashida said renewable sources introduction is important for Japanese energy policy. However, drastic energy policy revision is needed for preventing global warming when Japanese energy supply structure will change after the major earthquake.

He said Japanese manufacturing industries suffer from higher corporate tax, delay in Trans-Pacific Partnership, unequal CO2 reduction goal, rapid yen exchange rate appreciation. He also said the industries are concerned about power supply and power cost increase. He claimed energy policy to consider the impact on global competitiveness of Japanese manufacturing industries.

Japanese Upper House cleared the renewable energy purchasing system on Friday. The relief for heavy power consuming industry will apply to company, which consumes power more than 8 times of average consumption rate of sales and exceeds the volume decided by the law. The authorities will fix standards before the enforcement on July 1 of 2012.