nuclear-news

Jan’s govt suggests nationalising Tepco, at least temporarily

Tepco asked to consider temporary state control, BBC News 27 Dec 11 Tokyo Electric Power Company (Tepco), which operates Japan’s disaster-hit nuclear plant, has been asked to consider temporary state control. Energy minister Yukio Edano suggested it as one possible way to try to strengthen its financial position.

Tepco has also asked for an extra 690bn yen ($9bn; £5.6bn) to compensate victims of the nuclear crisis. The firm has already received $7.1bn in public funds. It faces claims
and costs of almost $100bn.

“Tepco’s financial base must be fundamentally strengthened if it is to pull off the clean-up from the nuclear disaster without a hitch, decommissioning the reactors and compensating victims swiftly and in earnest,” Mr Edano said.

During a meeting with Tepco president Toshio Nishizawa, he called on
the power firm to “consider a comprehensive business plan without
excluding any options, including temporary state control”…..
Last week, Japanese media reported that the government may pick up a
two-thirds stake in Tepco, a move that would effectively nationalise
the company.

Tepco and the government had both denied the reports at that
time……   http://www.bbc.co.uk/news/business-16337043

December 28, 2011 - Posted by Christina Macpherson | business and costs, Japan