Edano warns TEPCO gov’t aid is for compensation payments not protecting creditors

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Industry minister Yukio Edano on Tuesday made it clear that the government’s financial aid to Tokyo Electric Power Co. will not be aimed at protecting the utility’s lender banks and shareholders but to support compensation payments to those affected by the Fukushima nuclear crisis.

 

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”The purposes of the aid do not include protecting creditors and shareholders,” Edano said at a press conference.

 

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Edano also suggested his intention to seek a review of fuel and other costs at not only TEPCO but also other Japanese utilities.

A third-party panel tasked with overseeing Tokyo Electric’s financial standing has pointed out that the utility’s cost estimation to date has been problematic.

Source: english.kyodonews.jp, via Twitter search for TEPCO
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