Debate Begins to Update TEPCO's Biz Plan

Tokyo, June 5 (Jiji Press)--Nuclear Damage Compensation and Decommissioning Facilitation Corp. launched a debate Wednesday to update Tokyo Electric Power Company Holdings Inc.'s medium-term business plan, which includes how to secure compensation costs following its nuclear accident in Fukushima Prefecture in 2011.

The focus of the debate is how to boost TEPCO's profitability as costs for compensation following the accident at its Fukushima No. 1 nuclear power plant are expanding due partly to growing payments to fishery operators after the plant started releasing treated water into the ocean in August last year.

The business plan, drawn up jointly by the government and TEPCO, which was effectively nationalized following the nuclear accident, includes ways to secure costs for compensation and plant decommissioning. The first such plan was compiled in 2012 and is updated every few years. It was last updated in 2021.

TEPCO currently plans to invest up to 3 trillion yen in renewable energy by fiscal 2030, a commitment that requires it to form alliances with other companies, as there are limits to how far it can raise funds.

The company aims to achieve about 450 billion yen in annual profit over the medium to long term, after securing compensation and decommissioning costs of about 500 billion yen per year.

[Copyright The Jiji Press, Ltd.]

Jiji Press