TEPCO expected to face more criticism in 2012

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The Board of Audit of Japan plans to launch an in-depth investigation into TEPCO records to ensure the company makes compensation payments appropriately for disaster victims.

The board will also ensure that TEPCO’s rationalizations for rate increases are valid, as the utility plans to receive more massive injections of public funds.

Japan has marked 30 billion dollars in financial assistance to assist TEPCO in paying compensation to victims of last year’s nuclear disaster.  Japan will additionally supply some 12.5 billion dollars in public funds to keep the utility out of the red.

A majority of major Japanese companies are holding their annual shareholders meetings this week, including TEPCO, which is expected to face harsh criticism as it did last year from its shareholders in regard to its coming nationalization and plans to raise power rates.

Source: JiJi Press

Source: NHK

Source: JiJi Press

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