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TEPCO reports Y685.3 bil loss due to compensation and energy import costs

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© 2013 AFP

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Only two of all the major electrical utilities posted profits for the fiscal year due to the massive increase in spending on fossil fuel imports and shut down of the nuclear reactors, according to last nights news.

This does not bode well for the overall economy as the costs are going to explode even more this year because of the weaker yen. Increased electrical costs are going into effect and the economy is going to take an even bigger hit because of it. The trickle down effect of this will hit all sectors of the economy.

1 ( +1 / -0 )

Cheap nuclear power.....

5 ( +5 / -0 )

All these articles sounds like a plot to increase electricity rate. If more industries blame the yen rate to increase their prices Mr. Abe might just have his inflation target met (for better or worse).

1 ( +2 / -1 )

dissolve TEPCO, its run down by dinosaurs that are not in contact with reality. They are bleeding red yet they are giving bonuses and perks and just keep on increasing electricity rate to keep up with their lifestyle while Fukushima is left languishing

3 ( +3 / -0 )

But the latest figures were worse than a previous 120 billion yen loss estimate that Tokyo Electric Power (TEPCO) announced just two months ago

LOL. In just two months their loss grew by a factor of almost 5 -- 520 billion yen. Please, how foolish does TEPCO think the J-public is? Anyone who trusts their numbers about anything is simply a fool.

1 ( +3 / -2 )

Listen for all the violins playing on behalf of TEPCO -- I sure can't hear them.

-2 ( +2 / -4 )

How come they are only talking about increased fuel import cost and not about the clean up and decommissioning cost of the Fukushima Daiichi?

4 ( +4 / -0 )

TEPCO should make hay out of this and invest in domestic green energy programs. It'll reduce importing foreign energy and eventually increase Japanese competitiveness in export markets.

1 ( +1 / -0 )

Its because of the rats!

2 ( +3 / -1 )

Actually, the loss is the result of incompetence. It has been exacerbated by Abenomics.

2 ( +2 / -0 )

A bigger sea wall is looking pretty cheap now,isn't it?

1 ( +1 / -0 )

POOR THEM!

0 ( +0 / -0 )

boo hoo. now split the company up and privatize power in Japan so we dont have these mega companies selling power trying to make a profit.

1 ( +2 / -1 )

You have to remember that tepco DID admit fault over the Fukushima disaster, just recently after the LDP supported and passed a bill breaking tepco's monopoly on electricity production and distribution ... it somehow caused their hearts to bleed in a way that the human suffering did not.

Electricity prices may go up but machinery exporters foreign customers are seeing a effective %20 drop in the price of these Japanese machines ... the weakening yen of Abenomics is a windfall for exporters far offsetting higher electricity cost. Households, supermarkets, department stores. others involved in domestic markets will suffer.

1 ( +1 / -0 )

now split the company up and privatize power in Japan so we dont have these mega companies selling power trying to make a profit.

Utilities are a natural monopoly.

-2 ( +0 / -2 )

Well, Boo bloody Hoo! Note how the article doesn't refer to TEPCO admitting the meltdown was a man-made error. No sympathy for self-inflicted wounds! However, it is us that will end up footing the bill and these incompetent fogies will carry on complaining and seeking sympathy and public money without facing any consequences for their incompetence. Nice!

2 ( +3 / -1 )

I'm shedding tears of......joy.

Yet still I am NOT satisfied. None of those fat cats have been brought up on charges.

1 ( +2 / -1 )

@zichi You're right, and not the little ones with long tails.

0 ( +0 / -0 )

The entire board of director needs to be in jail, they put profits before people.

0 ( +1 / -1 )

TEPCO should bleed itself to death by compensating victims, investing in renewable energy, and helping rebuild Fukushima in a sustainable way. Oh, and don't overlook finding real solutions to the decades of npp decommissioning ahead.

0 ( +1 / -1 )

So, it's like you work all your life to "save", neglecting your health, then use that saving and more for medical fee to stay alive a bit longer. TEPCO, the best example of crisis management and handling of worst case scenario.

0 ( +0 / -0 )

TEPCO have been spending billions on rebuilding the second Fukushima NPP, which was also badly damaged by the 3/11 earthquake and tsunami, but with very little likelihood it will ever get permission to restart it since the people are opposed to any running NPP's in their prefecture, which is very understandable.

3 ( +3 / -0 )

That 2% inflation target is right on schedule. Get ready to pay more for everything that is dependent on electricity.

0 ( +1 / -1 )

A question I hope someone can answer, not being scientifically minded. In a normal operation of a nuclear plant ,there is a system for cooling and recycling(reusing) the water over and over. My question what is the reason the water being stored cannot be recycled in a similar way, cooled and then used again ?? It would certainly solve one of the huge problems that seem to be going on at the Fukushima plant. Also lessening the chances of it being released into the Ocean.

0 ( +0 / -0 )

Poor baby...have a cookie!

1 ( +1 / -0 )

It appears Nothing Learnt From This Very Expensive Mishap if they ever reopen any of their other Nuclear power plants.

1 ( +1 / -0 )

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