Today's Coming Crisis Movie

Sunday, March 11, 2012

TEPCO making slow progress in paying nuclear disaster compensation

TOKYO (Kyodo) -- The sum of compensation paid so far by Tokyo Electric Power Co. to people affected by the nuclear crisis at its Fukushima Daiichi power plant is equivalent to only a quarter of the around 1.7 trillion yen of financial aid made available for the purpose by the government, according to sources familiar with the matter.

The utility's slow progress in compensating nuclear disaster victims reflects complicated procedures set by the company for applying for compensation and a lack of flexibility in deciding payments, especially to owners of real estate.

As of March 7, the total compensation paid to individuals and corporations by the company known as TEPCO stood at 441.7 billion yen, falling well short of the around 1.7 trillion yen that the government has decided to provide to the utility, the sources said.

The state assistance aimed at covering TEPCO's compensation payments comprises 1.1 trillion yen approved by the government in November and additional support decided in February.

TEPCO has effectively postponed compensation for real estate in areas subject to government evacuation orders and advisories, citing difficulties in inspecting such properties. Read More