Japan utility Tepco gets $15.9 billion nuclear crisis bailout
ONAGAWA, Japan (AP) - The Japanese operator of the nuclear power plant devastated in last year's disasters received a 1 trillion yen (S$15.9 billion) bailout on Tuesday, putting it under government ownership, while international experts visited another plant that survived the tsunami's impact.
Tokyo Electric Power Co. apologised for the "inconvenience and anxiety" from the disaster at the Fukushima Dai-ichi plant in north-eastern Japan, and for raising electricity charges to cover the costs of dealing with the crisis.
The company faces massive compensation demands from those forced to evacuate and whose land and products were contaminated by radiation leaks following the crisis that began March 11 last year when Japan's north-east was hit by a massive earthquake and tsunami.
Tepco must also shoulder the enormous costs of decommissioning three reactors with melted cores and putting nuclear fuel rods from a fourth reactor into safe storage.