• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 15 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days Does Toyota Know Something That We Don’t?
  • 4 days World could get rid of Putin and Russia but nobody is bold enough
  • 3 hours America should go after China but it should be done in a wise way.
  • 7 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 6 days China is using Chinese Names of Cities on their Border with Russia.
  • 7 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 7 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 6 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 7 days Putin and Xi Bet on the Global South
  • 7 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 8 days United States LNG Exports Reach Third Place
  • 8 days Biden's $2 trillion Plan for Insfrastructure and Jobs

Estimated Compensation for Fukushima Reactor Debacle Continues to Rise

The Japanese government panel overseeing Tokyo Electric Power Co.'s financial standing has estimated that the utility could face more than $52 billion in compensation costs related to the 11 March nuclear crisis at TEPCO’s Fukushima No. 1 power plant.

Panel sources, speaking on condition of anonymity said that the committee calculated the figure based on government compensation guidelines, but the final amount could increase as discussions continue on issues including as how far TEPCO should bear the costs to compensate people who have voluntarily evacuated from around the radiation-leaking plant.

Following the accident the Japanese government established a 12.6 mile evacuation zone around the stricken reactor complex, The Japan Times reported.

The government panel, headed by lawyer Kazuhiko Shimokobe, has calculated that TEPCO could avoid deficits without raising electricity rates if it is allowed to restart reactors at the Kashiwazaki-Kariwa power plant in Niigata Prefecture in the summer of 2012, adding that that a rise in electricity rates would be unavoidable if TEPCO is subjected to delays in restarting the reactors, accumulating liabilities that could overwhelm TEPCO with debt.

Further adding to the fiscal uncertainty, the panel’s assessment doesn't include the costs for decommissioning the Fukushima reactors.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News