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theenergynet on 2011-04-15Given the increasingly serious circumstances involving Tokyo Electric Power Co., operator of the crippled Fukushima No. 1 nuclear power plant, the firm cannot be allowed to get away with ambiguous statements.
Appearing Wednesday at a press conference at TEPCO's head office, the first he had held in about a month, company President Masataka Shimizu did not go into detail about future actions concerning the nuclear plant.
All he said was: "I want to indicate [when the accident can be contained] as soon as possible."
On the subject of compensation for people affected by the crisis, Shimizu said: "We'll act based on the law concerning compensation for nuclear disasters. We're considering provisional payments for urgently needed money."
Under the law, the government will shoulder up to 240 billion yen for the Fukushima accident. If the total amount exceeds that figure, TEPCO is in principle responsible for the remainder. The total amount of compensation may reach trillions of yen, however, making it doubtful TEPCO will be able to shoulder such a burden.
Therefore, the government and TEPCO have begun discussing a plan to establish a fund for compensation payments, to which other electric power companies will also contribute money.