Michele Kearney's Nuclear Wire

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

Wednesday, June 27, 2012

Tepco Sharholders Agree to Nationalise Struggling Energy Company

Tepco Sharholders Agree to Nationalise Struggling Energy Company

Tokyo Electric Power Company (Tepco) is the biggest energy company in Japan, but since the disaster at the Fukushima Daihatsu nuclear power plant last year it has struggled to survive.Shareholders held a meeting in which they agreed to accept $12.6 billion from the Japanese government and nationalise the company. In total Tepco has received $43.9 billion in support from the government since last year’s earthquake and tsunami caused the reactor meltdown at Fukushima, and the subsequent closure of all nuclear reactors in Japan.Japan used to…Read more...

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