BREAKING NEWS

Tepco seeks $9 billion more for Fukushima compensation

By REUTERS

DECEMBER 27, 2011 06:36

TOKYO - Tokyo Electric Power Co asked a government-backed bailout body on Tuesday for an additional 690 billion yen ($8.8 billion) to help compensate victims of the nuclear crisis at its Fukushima Daiichi power plant.

To help Japan's biggest utility, known as Tepco, meet costs running into trillions of yen for compensation and cleanup, the government had already agreed in November to provide 890 billion yen through a bailout fund.

"We have reviewed the estimated sum of compensation after the committee addressing compensation disputes decided on additional measures to compensate victims who voluntarily evacuated," Tepco said in a statement.

Tepco was told by an advisory panel in October it can expect to face bills for about 4.5 trillion yen in compensation in the first two years after the crisis, triggered by the March 11 earthquake and tsunami.

Earlier this month a separate panel on compensation guidelines said Tepco can expect bills for an additional 200 billion yen, media reported.

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