Tokyo Elec. Power : Japan to Seek Tepco Payment for Fukushima
07/11/2012| 08:26pm US/Eastern
TOKYO--Japan's government plans to have Tokyo Electric Power Co. (9501.TO) contribute 1 trillion yen toward the cost of cleaning up radioactive materials spread by the Fukushima Daiichi nuclear disaster, the Asahi Shimbun reported in its Thursday morning edition.
The amount is the government's budgeted allocation for the first two years of the cleanup operation, the report said. The operator of the Fukushima plant would be asked to pay the amount in addition to a requested Y2.5 trillion in compensation costs.
Ultimately, the burden of the combined sums would fall on consumers in the form of higher electricity prices, the report said.
The government will ensure the utility has sufficient funding through a state-backed bailout facility to prevent the request from jeopardizing Tepco's future, the report added.
Write to Tokyo Bureau at email@example.com