Tokyo Electric Power Co is readying an application for the re-firing of two of the seven units at Kashiwazaki-Kariwa in Niigata prefecture in the north of Japan.
The entire power station has been shuttered since around 12 months after the tsunami-sparked meltdowns at Fukushima in March 2011.
"We decided at a board meeting to apply for the safety assessment for Kashiwazaki-Kariwa plant's reactors No. 6 and No. 7 as early as possible," company president Naomi Hirose told reporters.
All but two of Japan's 50 nuclear reactors are offline, shut down for safety checks after the Fukushima disaster, the worst the world has seen since Chernobyl.
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A vocal anti-atomic campaign whose leading lights say the nuclear industry had too cosy a relationship with its regulators in the decades leading up to Fukushima, nudged the government into establishing a new industry watchdog.
Eager to prove it has teeth, the watchdog has set strict new standards that operators must show they can meet before they will be granted permission to re-start mothballed reactors.
Japan's power companies have been badly hit by the surging cost of making electricity from fossil fuel alternatives since their reactors were shut down.
Resource-poor Japan has to import the coal, gas and oil it is using to replace nuclear generating capacity and the falling value of the yen has pushed up the relative cost of those dollar-priced commodities.
TEPCO is also struggling with the vast expense of the clean-up at Fukushima and with the mounting compensation bills for people whose lives or livelihoods were wrecked by the disaster.
The latest problem came today when a small fire was reported near an incinerator. There was no release of radiation.
Reports of TEPCO's planned move to ask for the green light at Kashiwazaki-Kariwa sent its shares soaring on the Tokyo Stock Exchange. The issue closed up 19.12 per cent at 623 yen.