Fukushima operator seeks yet more money

Dec 27, 2012
An Air Photo Service picture shows the Fukushima power plant's number three (left) and four reactors shortly after the earthquake and tsunami hit Japan in March 2011. The operator of Japan's crippled Fukushima nuclear power plant on Thursday sought yet more money to pay ballooning bills for compensating victims of last year's disaster.

The operator of Japan's crippled Fukushima nuclear power plant on Thursday sought yet more money to pay ballooning bills for compensating victims of last year's disaster.

Power Co. (TEPCO) said it had newly estimated the compensation costs at 3.24 trillion yen ($38 billion), up 697 billion yen from its last calculation in March.

The utility has increased the estimate three times since it originally put the sum at 1.1 trillion yen in October last year, seven months after a and tsunami sparked reactor meltdowns at the plant, forcing tens of thousands of people to evacuate.

TEPCO said it had already received about 1.5 trillion yen in such aid.

The new increase has become necessary after areas for mandatory evacuation were expanded and some voluntary evacuees were made eligible for compensation, the company said in a statement.

A public-private body—the Nuclear Damage Liability Facilitation Fund—created last year to deal with the , is providing the aid which must be repaid by TEPCO in the future.

The fund is expected to consider the request in the New Year, the Yomiuri Shimbun newspaper said.

TEPCO also faces a growing bill, estimated at more than 10 trillion yen, for the work to dismantle the crippled plant and to clean areas polluted by radiation.

Explore further: Amazon loss widens despite climbing sales

add to favorites email to friend print save as pdf

Related Stories

Japan may put nuclear power firm under state control

Dec 27, 2011

Japan's government on Tuesday floated the idea of putting the operator of the crippled Fukushima nuclear power plant under temporary state control, as it asked for $8.9 billion more in compensation aid.

Japan's TEPCO admits downplaying tsunami risk

Oct 12, 2012

The operator of the crippled Fukushima nuclear plant on Friday admitted it had played down the risks of a tsunami to the facility for fear of the financial and regulatory costs.

Fukushima leak may have flowed into Pacific: TEPCO

Apr 05, 2012

About 12 tonnes of radioactive water has leaked at Japan's crippled Fukushima Daiichi nuclear power plant, with the facility's operator saying Thursday that some may have flowed into the Pacific Ocean.

Record radiation levels detected at Fukushima reactor

Jun 27, 2012

TEPCO, the operator of Japan's crippled Fukushima nuclear plant, said Wednesday record amounts of radiation had been detected in the basement of reactor number 1, further hampering clean-up operations.

Recommended for you

Nokia profits rise after sale of handset division

20 hours ago

(AP)—Telecommunications and wireless equipment maker Nokia Corp. saw its shares surge on Thursday after it reported higher profits and an improved earnings outlook in the wake of its sale to Microsoft of its troubled handset ...

Swiss drug maker Roche posts 7 percent profit drop

23 hours ago

(AP)—Swiss drugmaker Roche Holding AG on Thursday posted a net profit drop of 7 percent compared with a year ago, weighed down by a strong Swiss franc and charges from one of its diagnostic units.

Cheaper wireless plans cut into AT&T 2Q profit

Jul 23, 2014

(AP)—AT&T Inc. on Wednesday posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

User comments : 0