The operator of the plant in Fukushima, Tokyo Electric Power (TEPCO), has formally requested Tuesday, May 10, using the Japanese government to deal with various financial burdens resulting from the nuclear accident of March 11. "Currently, we are taking steps to ensure an adequate supply of electricity and avoid cuts planned," assured the CEO of TEPCO, Masataka Shimizu, in a letter to Minister of Economy, Banri Kaieda.
But because of the shutdown of nuclear reactors in Fukushima, TEPCO will need to increase oil production in thermal power plants, "which will cost 1,000 billion yen over the fiscal year" (8.7 billion euros), he said. "Matching funds are needed," stressed the head of the electricity company.
Mr. Shimizu said that since the nuclear accident, TEPCO was "in a situation that makes it difficult to obtain money from financial institutions," especially as the company faces from of important deadlines. He added that financial difficulties could impact not only on the capabilities of the company to compensate victims of the accident but also the stable supply of current to the Tokyo area. 
But because of the shutdown of nuclear reactors in Fukushima, TEPCO will need to increase oil production in thermal power plants, "which will cost 1,000 billion yen over the fiscal year" (8.7 billion euros), he said. "Matching funds are needed," stressed the head of the electricity company.
Mr. Shimizu said that since the nuclear accident, TEPCO was "in a situation that makes it difficult to obtain money from financial institutions," especially as the company faces from of important deadlines. He added that financial difficulties could impact not only on the capabilities of the company to compensate victims of the accident but also the stable supply of current to the Tokyo area.
- Cabinet wants deeper Tepco restructuring (07/05/2011)
- Tepco Can't Avoid Boosting Electricity Charges, Kaieda Says - Bloomberg (08/05/2011)
- Public anger growing against TEPCO - CNN (23/04/2011)
- Japanese Government Takes Over PR for Tepco (26/04/2011)
- Japanese nuclear power plant to get safety upgrade (09/05/2011)
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