Fukushima Nuclear Disaster to Cost Taxpayers Up To ¥218.2 Billion
Tokyo, March 23 (Jiji Press)—The Fukushima nuclear disaster in 2011 is now seen costing taxpayers in Japan up to ¥218.2 billion, substantially larger than the previous estimate of ¥126.4 billion, the Board of Audit of Japan said Friday.
The audit board made the latest estimate after the government took a cabinet decision in December 2016 to raise the upper financial assistance limit from ¥9 trillion to ¥13.5 trillion for Tokyo Electric Power Company Holdings Inc., the operator of the Fukushima No. 1 nuclear plant, which suffered the triple meltdown after being hit by a 9.0-magnitude earthquake and ensuing monster tsunami on March 11, 2011.
The government is borrowing funds from financial institutions for delivery to TEPCO through a public-private body to help pay compensation and other costs related to the worst nuclear accident in Japan.
The principal of the funds will be repaid from contributions by TEPCO and other power companies to the body, Nuclear Damage Compensation and Decommissioning Facilitation Corp., and proceeds from the sale of TEPCO shares owned by the body.
But interest payments will be shouldered by the government, or taxpayers.[Copyright The Jiji Press, Ltd.]