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TEPCO now owes $50 billion in Fukushima nuclear compensation

N-disaster price: Tepco to pay $50 bn? Hindustan Times , Aizuwakamatsu, October 10, 2011 “…….Seven months after the triple meltdown at Fukushima Daiichi, Tepco, which operated the facility, owes $50 billion in compensation to the tens of thousands who lived close to the plant. The payments could send the company into bankruptcy, a government panel recently said. At minimum, they will handcuff the utility giant for years, forcing it to cut jobs, sell its assets and perhaps raise electricity rates for its 29 million customers….

The prestige of working for Tepco is gone, and so are many of the perks. It once operated resorts and sponsored clubs for employees. But since the disaster, it has booked $23 billion in losses. Economists say the company will either go bankrupt or carry for years the baggage of debts to evacuees and lenders.. http://www.hindustantimes.com/N-disaster-price-Tepco-to-pay-50-bn/Article1-755743.aspx

October 11, 2011 - Posted by | Japan

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