information about Fukushima published in English in Japanese media info publiée en anglais dans la presse japonaise
31 Juillet 2012
July 31, 2012
TEPCO receives public funds injection
http://www3.nhk.or.jp/daily/english/20120731_23.html
Tokyo Electric Power Company has received one trillion yen or around 13 billion dollars in government funds, putting the operator of the Fukushima nuclear power plant under effective state control.
The power company asked for taxpayer money to bolster its finances under a rehabilitation program created with a state-backed bailout fund in May.
The injection on Tuesday came in the form of Tokyo Electric's issuance of preferred stocks to the government.
This gave the government up to 75 percent of the utility's voting rights.
The capital injection is supposed to help the firm pay the massive cost of compensating victims of the nuclear accident and scrapping crippled reactors.
But Tokyo Electric continues to face rough going. The company was recently forced to lower household rate hikes and fuel costs are rising for thermal plants now making up for the loss of nuclear power.
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