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Gov't approves TEPCO request for extra Y697 bil in public funds

21 Comments

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A drop in the ocean when the eventual costs will be in excess of ¥50 trillion.

TEPCO needs to speed up the paying of compensation which claimants can only make up to three years after the date of the disaster, although recently, TEPCO have stated it will make the three year period from the date of receiving the claimants form.

We are coming up to the second anniversary but I wouldn't trust TEPCO making compensation payments after the three year period.

The gov't should be dealing with the compensation claims and not TEPCO.

At this stage there's nothing much the gov't can do but continue to bail out TEPCO but it should also ensure that the money is going were its suppose to go.

8 ( +9 / -1 )

The Japanese government should tell TEPCO to take a hike

7 ( +7 / -0 )

I think having compensation funds is a good idea, but it would be better to leave TEPCO out of the process. It would be better to have the funds someplace where they can be more easily tracked just in case... you know ... the amount suddenly dwindles or something without anyone knowing where they went. TEPCO is currently not so high, maybe, on the public's trust list.

5 ( +5 / -0 )

So ultimately, we're the ones paying for all this? great.

5 ( +7 / -2 )

Gov't approves TEPCO request for extra Y697 bil in public funds

Is it still the same incompetent and corrupt TEPCO managing the compensation funds from tax payers? my foot!!

3 ( +3 / -0 )

Geeeezzzzz.... Is JGov PIMPING for TEPCO? That's the TAX people's money.

2 ( +2 / -0 )

What none of the 40-50% in rate hikes I have been paying quite a while for can cover some of this!! WTF!

I am still waiting for the article which outlines the salary cuts, bonues & pension(of those retired) cuts of senior "management"

when the hell is THAT going to happen!

1 ( +2 / -1 )

Bastards!! Tepco knows they are wrong, take a walk by their head office here in Tokyo, wall to wall cops!!

1 ( +1 / -0 )

For a country that is smaller than the state of California in the US, why do they have so many power companies?

With a population more than double it as well, and an economy that is No 3 in the world. That's why.

Oh and yes it's smaller than California, square milage wise in land area, Japan is about equal to Montana.

1 ( +1 / -0 )

Hang on a minute.

TEPCO's full-year forecast loss = about 120 billion yen Public funds (i.e. taxpayers' hard-earned cash - yes us!) = 697 billion yen

Is it just me or does anybody else feel like they have just been shafted?

1 ( +1 / -0 )

Ten trillion yen! How can those who support nuclear power for Japan justify the risk of having to pay such astrononomical compensation and decommissioning costs after an earthquake (admittedly a big one) which will amount to a sum approaching the GNP of New Zealand? Not to mention the appalling cost to people's lives, the environment, and the economy more widely. And there are how many more nuclear power plants which could be similarly damaged by another earthquake or tsunami? Surely nuclear is a bonkers energy policy for Japan? Those who disagree are simply living in denial.

1 ( +1 / -0 )

It'll be real disaster suppose TEPCO suddenly declares bankrupt, who is the next to take the blame or responsibilities? So it seems TEPCO becomes a real boss now and will get whatever it requests!

1 ( +1 / -0 )

Good thinking. Dividends for shareholders need to be paid.....

0 ( +2 / -2 )

More money out of my pocket.... grrrrrrrr

0 ( +0 / -0 )

J nuclear power companies are baulking at the estimated costs required to meet new - much tougher - safety regulations including building higher tsunami walls, using non-combustable cable coating, installing filters, etc.

Perhaps they should toss up all these extra costs against the massive costs if - as in TEPCO's case - the bottom falls out from under them.

0 ( +0 / -0 )

making greater government support vital

read "making greater taxpayer support vital"

0 ( +0 / -0 )

This whole story seems bizzare-The Power Co. that caused all of this misery will use Taxpayer funds to compensate the victims ? Who in the hall is running things over there in the Diet, Bernie Madoff?

0 ( +0 / -0 )

Japan at its best, but what else are ya gonna do other than hand them money? I mean they decided this when they asked tepco to handle the claims now didn't they? I don't think anyone thought tepco would be compensating out of their own pockets right?

0 ( +1 / -1 )

For a country that is smaller than the state of California in the US, why do they have so many power companies? You would think one would do. Isn't like there is competition. Then maybe all the power in Japan can be the same.

-1 ( +0 / -1 )

The gov't should be dealing with the compensation claims and not TEPCO.

Actually that's not too smart of an idea either. The blind leading the blind is the first thing that pops into mind. Secondly who would track the government when the funds get sent to the people who need it?

Hire the Yak's, pay them a fair amount in compensation, and they'll get the money to the people who need it faster than anyone else and without any of the paperwork either. And who in their right mind would try to screw with them?

-3 ( +0 / -3 )

Does the public even get a say in any of this? Has TEPCO stopped paying bonuses? Just disgusting. Why is no one rotting in jail yet for all of this?

-4 ( +1 / -5 )

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