nuclear-news

How Japan’s government financially props up TEPCO nuclear company

After Fukushima: Japan’s ‘nuclear village’ is back in charge, Ecologist Jim Green28th March 2015 “…….Many have called for TEPCO to be nationalised, or broken up into separate companies, but the LDP government has protected and supported the company. The government has also greatly increased financial support for TEPCO.

For example in January 2014 the government approved an increase in the ceiling for interest-free loans the Nuclear Damage Liability Facilitation Fund is allowed to give TEPCO, from 5 trillion yen to 9 trillion yen (€39.0-70.2 billion)

The government will also cover some of the costs for dealing with the Fukushima accident which TEPCO was previously required to pay, such as an estimated 1.1 trillion yen (€8.6 billion) for interim storage facilities for waste from clean-up activities outside the Fukushima Daiichi plant.

The government has also amended the Electricity Business Act to extend the period for collecting decommissioning funds from electricity rates by up to 10 years after nuclear plants are shut down. The amendments also allow TEPCO to include in electricity rates depreciation costs for additional equipment purchased for the decommissioning of the Fukushima plant………http://www.theecologist.org/News/news_analysis/2810545/after_fukushima_japans_nuclear_village_is_back_in_charge.html

March 30, 2015 - Posted by Christina Macpherson | Japan, politics