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Another $22 billion needed due to nuclear meltdowns
And of course, this doesn't count the direct payments the national government has made to aid the victims. This is just public funds that have been required to maintain TEPCO as a functioning economic unit.
Operator of crippled Japan nuclear plant seeks another $22 billion to stay afloat
TOKYO — The power company behind Japan’s nuclear crisis is seeking another $22 billion from a state-backed fund to avoid insolvency as the cost of compensation and stabilizing damaged reactors swells.
Tokyo Electric Power Co. President Toshio Nishizawa told a news conference Thursday that the company is asking for 1 trillion yen ($12 billion) to stay afloat and another 846 billion yen ($10.2 billion) to cover compensation for thousands affected by the nuclear crisis.
...“Our financial condition is extremely severe. It’s getting worse by the day,” Nishizawa said.
The 1 trillion yen needed to stay in business would bring the total amount of public money injected into TEPCO to 2.5 trillion yen ($30.7 billion), virtually nationalizing the company.
...
TOKYO — The power company behind Japan’s nuclear crisis is seeking another $22 billion from a state-backed fund to avoid insolvency as the cost of compensation and stabilizing damaged reactors swells.
Tokyo Electric Power Co. President Toshio Nishizawa told a news conference Thursday that the company is asking for 1 trillion yen ($12 billion) to stay afloat and another 846 billion yen ($10.2 billion) to cover compensation for thousands affected by the nuclear crisis.
...“Our financial condition is extremely severe. It’s getting worse by the day,” Nishizawa said.
The 1 trillion yen needed to stay in business would bring the total amount of public money injected into TEPCO to 2.5 trillion yen ($30.7 billion), virtually nationalizing the company.
...
http://www.washingtonpost.com/business/industries/operator-of-crippled-japan-nuclear-plant-seeks-another-12-billion-to-stay-afloat/2012/03/29/gIQAP4dHiS_story.html
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