Prime Minister Naoto Kan had asked Chubu Electric Power Company to shut down their Hamaoka nuke plant, because it turns out that it is right over a convergence of fault lines, and scientists expect a magnitude 8+ quake.

Hamaoka is south west of Tokyo. Kan wants CEPCo to shut down the plant, and reinforce the reactors to withstand an 8+ quake.

CEPCo officials studied several options, including how to pay for the cost of reinforcing their nuclear plant.  They decided they don’t have the money to reinforce the plant, and it would not be feasible to raise electric rates high enough to pay for it (because customers would refuse to pay the higher rates).

CEPCo also decided that shutting down the plant would make the already bad situation, for Japanese industries dealing with lack of power, even worse.

CEPCo is not ruling out shutting down the Hamaoka plant, if they can do it with out reducing electrical power, and find money to pay for the reinforcing.