Cost Sharing Urged for Fukushima Nuclear Accident

Tokyo, Nov. 25 (Jiji Press)--The steering committee of the government-backed Nuclear Damage Liability Facilitation Fund requested Monday that costs for dealing with the accident at Tokyo Electric Power Co.'s <9501> Fukushima No. 1 nuclear power plant should be shared by the state, the company and financial institutions. "It would be difficult for TEPCO to deal with the accident and cover related costs single-handedly," the fund said in its request in relation to the company's business rehabilitation program to be revised by the end of the year. The proposal was submitted to the government and the power company. TEPCO needs massive funds chiefly for decommissioning reactors at the plant damaged in the March 2011 earthquake and tsunami and for decontaminating areas tainted with radioactive substances released from the plant. The fund called on TEPCO to present specific reform steps to give back to the Japanese economy, asking it to lower electricity rates that have been raised to finance higher fuel costs caused by the suspension of nuclear reactors. The fund was established in September 2011 under a public-private initiative to help TEPCO pay compensation related to the nuclear accident and draw up business reconstruction programs. END