Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. Earth Science News .




CIVIL NUCLEAR
TEPCO believes Fukushima may cost $125 bn
by Staff Writers
Tokyo (AFP) Nov 7, 2012


The cost of the clean-up and compensation after Japan's Fukushima nuclear power plant disaster may double to $125 billion, the plant's operator warned Wednesday.

Tokyo Electric Power Company (TEPCO) said decontamination of irradiated areas and compensating those whose jobs or home lives have been affected would cost much more than the five trillion yen it estimated in April.

"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," the company said in a statement.

The utility -- one of the world's biggest -- received one trillion yen of public cash in April in exchange for granting the government a controlling stake.

The money was on top of previous grants and loans. It was intended to prevent the company, which generates and supplies electricity to millions of people, including in and around Tokyo, from going under.

But on Wednesday, as it presented a new management plan, TEPCO said it was looking at a bill of up to 10 trillion yen ($125 billion) -- equal to around two percent of Japan's gross domestic product or 11 percent of the country's annual budget.

The company said it would need more government help to meet the colossal figure.

TEPCO also said it had already set aside one trillion yen of its own capital to decommission the plant's broken reactors, which is in addition to the clean-up and compensation bill, but it was possible this may also rise.

"We are awaiting the government's instructions and are aware the total cost, including of removing fuel debris and final disposal, could be considerably larger than we have previously allowed for," it said in a statement.

Company chairman Kazuhiko Shimokobe told reporters TEPCO could become a shell, existing only to sort out the mess left by the tsunami-sparked disaster and dependent on the government for money.

"If we address the swelling costs by doubling the amount of government bond issuance (to 10 trillion), our firm will become an entity only for the purpose of dealing with post-accident issues," a company statement said.

"It will become difficult for us to raise money from the private sector so we will have to rely on the goverment for the financing of all of our business."

Shimokobe stressed that he believed TEPCO should be revived as a fully-fledged private-sector entity, to achieve its mission of compensating those affected by the disaster and providing a stable supply of energy.

TEPCO said Wednesday it would build a new office in Fukushima to try to speed up processing of compensation claims, whose slow pace has been much criticised, and to provide more than 4,000 jobs in Fukushima prefecture.

It also said it is looking at shaving extra 100 billion yen in costs annually.

Last month the Tokyo-listed TEPCO -- the one-time standard bearer of widows' and orphans' stocks -- said it expects to lose 45 billion yen this year, a figure well down on the 160 billion yen initially forecast.

The devastating tsunami of March 2011 swamped cooling systems at the Fukushima plant, sending reactors into meltdown and spewing radiation over a large area.

The clean-up is expected to take decades, with scientists warning that some settlements may have to be abandoned.

In October TEPCO admitted it had played down known tsunami risks for fear of the political, financial and reputational cost.

The confession was one of the starkest yet by a company that has fallen very far out of favour in Japan and has been criticised for trying to shirk responsibility for the worst nuclear disaster in a generation.

The massive natural disaster claimed nearly 19,000 lives when a huge undersea quake generated a massive tsunami that wreaked havoc along a stretch of coast in northeast Japan.

But the emergency at Fukushima is not officially recorded as having directly caused any deaths, although it has made tens of thousands of people homeless and rendered swathes of Japan's agricultural belt unfarmable.

.


Related Links
Nuclear Power News - Nuclear Science, Nuclear Technology
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





CIVIL NUCLEAR
TEPCO says Fukushima clean up, compensation may hit $125 bn
Tokyo (AFP) Nov 7, 2012
The cost of cleaning up the mess left by meltdowns at Fukushima nuclear power station and compensating those affected may double to $125 billion, the plant's operator said Wednesday. Tokyo Electric Power Company (TEPCO) said decontamination of irradiated areas and paying people whose livelihoods or home life have been affected would cost more than the five trillion yen it had estimated in Ap ... read more


CIVIL NUCLEAR
French seek compensation for cancelled New York marathon

New York kids back in school, but chaos continues

Thousands run in New York race of disappointment

Asia's newest megacity offers model for urban growth as populations swell worldwide

CIVIL NUCLEAR
Sensors for the real world

Soluble circuit boards to reduce e-waste

Megaupload boss aims to lie low

How Butterfly Wings Can Inspire New High-Tech Surfaces

CIVIL NUCLEAR
Australia reef collapse blamed on farming

Man dies of thirst in Australian Outback

Laos breaks ground on Xayaburi Dam

Veolia reports profit fall but shares surge

CIVIL NUCLEAR
Russia backs its claims for Arctic Shelf with evidence

Britain to keep Antarctic research group

Antarctic ocean sanctuary talks end in failure

Two Perfect Days for IceBridge

CIVIL NUCLEAR
Greenpeace stages anti-GM 'toxic warning' protest

Smallholder farmers need improved stake in Nile's development

Making barley less thirsty

Ozone's impact on soybean yield: Reducing future losses

CIVIL NUCLEAR
Croatia floods force hundreds to evacuate

15 feared dead in Guatemala quake

Death toll in south India floods rises to 45: officials

Slovenia urges evacuation as river overflows banks

CIVIL NUCLEAR
Somalia charcoal exports fuelling conflict flout UN ban

Outside View: Mounting tension in Mali

West Africa army chiefs adopt Mali intervention strategy

Mali Islamist rebels urge dialogue, halt to hostilities

CIVIL NUCLEAR
Bigger human genome pool uncovers more rare variants

Village in Bulgaria said Europe's oldest

Genetics suggest global human expansion

'Digital eternity' beckons as death goes high-tech




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement