• 3 minutes Cyberattack Forces Shutdown Of Largest Gasoline Pipeline In United States - Zero Hedge
  • 6 minutes Renewable Energy Capacity Jumped 45% Worldwide In 2020; IEA Sees 'New Normal'
  • 11 minutes Forecasts for Natural Gas
  • 9 hours U.S. Presidential Elections Status - Electoral Votes
  • 1 hour Electric vehicle market growth is a blessing for some metals — and not a big worry for oil
  • 11 hours Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 16 hours CRAPPIFORNIA DOES IT AGAIN! California proposes to steer new homes from gas appliances
  • 2 hours .
  • 1 day Сryptocurrency predictions
  • 1 day 1 in 5 electric vehicle owners in California switched back to gas because charging their cars is a hassle, new research shows
  • 1 day Joe Biden's Presidency
Why Exxon And Chevron Are Not Going All-Out In The Permian

Why Exxon And Chevron Are Not Going All-Out In The Permian

America’s two largest oil companies…

TEPCO Doubles Estimate for Fukushima Clean Up to $125 Billion

Tokyo Electric Power Company (TEPCO) has said admitted that the cost of cleaning up after the Fukushima disaster and paying off the compensation claims made may double from the five trillion yen it had estimated back in April, to ten trillion yen ($125 billion).

The company released a statement today that said, “there is a view that we may need the same amount (again) of additional money for the decontamination of low-level radiation areas and costs of temporary facilities for storing waste.”

In April the Japanese government gave TEPCO one trillion yen in exchange for a controlling stake in the company. The money was needed to prevent the company, the largest energy utility in Japan, from going under.

Related Article: Despite Fukushima, China Embraces Nuclear Power

To meet this new figure of ten trillion yen the company would need more support from the government, and that has left TEPCO’s chairman, Kazuhiko Shimokobe, very worried.

“If we address the swelling costs by doubling the amount of government bond issuance our firm will become an entity only for the purpose of dealing with post-accident issues. It will become difficult for us to raise money from the private sector so we will have to rely on the government for the financing of all of our business.”

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage



Leave a comment
  • Curtis on November 08 2012 said:
    It is somewhat ironic that the costs of dealing with radioactivity which does decline exponentially is countered by the cost of decontamination which seems to be increasing exponentially. All of this in a finite world. HA!

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News