Nuclear Industry Applauds Canada’s Treaty Signing – but only a 1 Billion dollar limit

…..By June of 2012, Tepco had received nearly 50 billion dollars from the government…..

OTTAWA, Dec. 4, 2013 /CNW/ –

SOURCE Canadian Nuclear Association

http://www.prnewswire.com/news-releases/nuclear-industry-applauds-canadas-treaty-signing-234464791.html

The Canadian nuclear industry fully supports the federal government’s decision to sign the Convention on Supplementary Compensation for Nuclear Damage.

The president of the Canadian Nuclear Association, Dr. John Barrett, said, “This treaty is a good step toward an improved nuclear liability regime. It brings us closer to a global set of rules on liability, and aligns Canada with international standards.”

The international convention, already signed by the United States and 15 other countries, enables a consistent international approach to managing nuclear liability. More countries with nuclear electric power generation capability will need to ratify the agreement before it takes effect.

“This treaty, combined with anticipated new legislation on liability, will go a long way toward improving the liability regime for Canadian nuclear operators,” said Dr. Barrett. “We are in full support of the Government of Canada’s nuclear liability initiatives.”

The federal government announced a plan last June to amend the Nuclear Liability Act.

Changes to Nuclear Liability in Canada

“In the recent announcement by the Minister, several proposed changes were described. Primarily, the liability cap of $75 million would be increased to $1 billion. Claims would be permitted through a greater number of categories and an improved procedure for delivering compensation would be designed and implemented. The scope of compensable damage would be broadened to include economic loss and environmental damage and the limitation period for certain claims would be increased to 30 years. The new legislation would also provide for a specialised claims tribunal to, among other things, accelerate claims payments.”

http://www.canadianenergylawblog.com/2013/07/19/changes-to-nuclear-liability-in-canada/

Public Pays for Fukushima Clean Up While Nuclear Industry Profits

“A year after the disaster, Tepco was taken over by the Japanese government because it couldn’t afford the costs to get the damaged reactors under control. By June of 2012, Tepco had received nearly 50 billion dollars from the government.”

http://stephenleahy.net/2013/11/11/public-pays-for-fukushima-clean-up-while-nuclear-industry-profits/

December 4, 2013 - Posted by arclight2011part2 | Uncategorized