Japanese multiple meltdown nuclear operator gets $7 billion govt cash infusion to stay afloat...

[kristopher]

Tepco gets payout cash

Tokyo Electric Power Co. said Tuesday it has received ¥558.7 billion from a government-backed funding entity to cover compensation payments through the end of this year to people affected by the Fukushima nuclear disaster.

Tepco is expected to continue to pay massive compensation without falling into negative net worth by receiving funds from the Nuclear Damage Liability Facilitation Fund.

http://www.japantimes.co.jp/text/nn20111115x3.html



At exchange rate of 80 yen to one dollar this is about $7B. Wonder what they will do for the next 3 months?

[PoliticAverse]

1. Socialize those losses... n/t

[Turbineguy]

2. Just think how much cheaper

proper regulation and enforcement would have been.

[kristopher]

3. In direct costs...

...the accident has more than wiped out all profits from all nuclear plants in Japan since they started using the technology.