Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Saturday, April 28, 2012

Govt takes on heavy burden in nationalizing TEPCO

Govt takes on heavy burden in nationalizing TEPCO

The Daily Yomiuri - 
The nationalization of Tokyo Electric Power Co. means that the government will be required to shoulder greater responsibilities for important energy polices such as resuming operations of suspended nuclear reactors.

Japan to Model Trillion-Yen Tepco Bailout on 2003 Bank Rescue

BusinessWeek -
By Tsuyoshi Inajima on April 28, 2012 Japan intends to take control of Tokyo Electric Power Co. (9501) in return for bailing out the beleaguered utility, following a model it adopted to rescue the nation's fifth-biggest bank. The government will inject ...

TEPCO submits reform plan to govt

The Daily Yomiuri -
Tokyo Electric Power Co. submitted a comprehensive business rehabilitation program to the government Friday to receive 1 trillion yen in taxpayer money for recapitalization, as its financial base was severely affected in the wake of the crisis at its ...

TEPCO 'offers controlling stake' to Japan govt

AFP - ‎Apr 27, 2012‎
By Shingo Ito (AFP) – 5 hours ago TOKYO — The operator of the crippled Fukushima nuclear plant on Friday offered the Japanese government a controlling stake in return for a huge cash injection that would prevent it going under, media reported.

Tepco submits $24.8bn recovery plan

Financial Times - ‎Apr 27, 2012‎
By Mure Dickie in Tokyo Tokyo Electric Power, the Japanese nuclear crisis-hit utility, has submitted a recovery plan to the government under which the state will inject Y1tn ($12.4bn) for a controlling stake, banks will lend a further Y1tn, ...

Japan nuke operator submits restructuring plan

Boston.com - ‎Apr 27, 2012‎
TOKYO—The operator of Japan's tsunami-devastated nuclear plant has submitted a restructuring plan in which it promises to cut costs in exchange for a government bailout. Tokyo Electric Power Co. needs to fund billions of dollars of compensation ...

Tepco submits turnaround plan to Japan govt

Reuters - ‎Apr 27, 2012‎
* Owner of Fukushima plant battles to recover from tsunami * Gives no detail of content of turnaround plan * Sources have said govt likely to take stake in co * Tepco also seen restarting Kashiwazaki Kariwa plant * Will raise household electricity ...

Tepco Gets Bailout, but Cedes Power

Wall Street Journal - ‎Apr 27, 2012‎
By MITSURU OBE TOKYO—Japan's biggest utility agreed to a ¥1 trillion bailout by the government, in a landmark move that could aid the cleanup of last year's nuclear disaster and help precipitate a shake-up of the power industry.
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