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information about Fukushima published in English in Japanese media info publiée en anglais dans la presse japonaise

Using gains on state-owned TEPCO shares

December 15, 2013

 

TEPCO share sales to fund decontamination work

http://www3.nhk.or.jp/nhkworld/english/news/20131215_10.html

 

The government of Japan has increased the estimated cost of decontamination work by 10 billion dollars, as a result of the Fukushima Daiichi nuclear power plant accident in March 2011.

Original estimates for decontaminating buildings and soil tainted with radioactive fallout by the end of fiscal 2013 were about 15 billion dollars.

The governing coalition made a proposal last month to accelerate recovery and rebuilding work.

The government has reviewed the cost of decontamination and building intermediate storage facilities for radioactive waste and soil.

It has also reviewed how the cost should be paid by Tokyo Electric Power Company.

On top of what TEPCO will pay from its ordinary profit every year, the government plans to use gains on the sale of utility shares to cover the cost of decontamination.

The state-backed Nuclear Damage Liability Facilitation Fund currently owns TEPCO shares valued at about 10 billion dollars.

If the gains are not enough, TEPCO will shoulder the additional cost.

The cost of building intermediate storage facilities is estimated to be about 10 billion dollars. Radioactive soil and debris collected during decontamination work will remain there for up to 30 years.

It will be funded by a special account for energy with the tax money for electric power source development.

The burden on TEPCO will be alleviated with such measures. However, using gains on the sale of state-owned shares and tax money may invite criticism that the government is in effect rescuing the company.

 

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