Why did TEPCO stock drop today?

Investors reacted to the Niigata reactor halt, which likely delays the March 18 commercial restart for Kashiwazaki-Kariwa Unit 6. A longer delay means more power from higher-cost LNG and coal. That raises operating costs and clouds near-term cash flow, pressuring valuation and sentiment toward the shares.

What is the latest on the Kashiwazaki-Kariwa restart?

An alarm for minor electrical leakage at Unit 6 forced a halt and additional checks. Management has indicated the commercial restart will be delayed while confirming the cause and implementing fixes. Investors are watching for a clear timeline to resume generation and whether the issue affects plans for other units.

How does a nuclear restart delay affect TEPCO’s earnings?

Nuclear output lowers the marginal cost of generation. A delay keeps TEPCO reliant on LNG and coal, which raises fuel expense and squeezes margins. With EPS currently negative, extra weeks on thermal generation can weigh on quarterly results and cash, and may lead to cautious guidance at the next earnings update.

Is TEPCO stock cheap based on valuation?

Price-to-book is around 0.33 and price-to-sales about 0.16, which look low. But losses and leverage justify part of the discount while restart timing remains uncertain. If Unit 6 returns smoothly and fuel costs fall, multiples could expand. Without progress, the discount may persist despite headline metrics.

Global Market Insights

9501.T Stock Today: March 16 Niigata Halt Delays Restart, Lifts Fuel Costs

ByHuzaifa Zahoor March 16, 2026March 16, 2026

TEPCO stock fell as the Niigata reactor halt threatens a planned March 18 restart at Kashiwazaki-Kariwa No. 6. An alarm for minor electrical leakage forced Tokyo Electric Power to stop generation and begin checks. A longer delay keeps the utility buying higher-cost LNG and coal, which squeezes margins and cash. Shares of 9501.T face near-term pressure while investors assess restart timing, fuel costs, and what that means for April earnings guidance and summer supply in eastern Japan.