Tokyo Electric Power Co . for the first time defended its response to the crisis at the Fukushima Dai-Ichi nuclear power plant, with Chairman Tsunehisa Katsumata rejecting claims the utility was slow to react.
Tokyo Electric Power Co. Chairman Tsunehisa Katsumata said he will announce in March whether he will resign over the Fukushima nuclear crisis. Katsumata was speaking in the Japanese lower house of parliament.
Tokyo Electric Power Co. President Masataka Shimizu is facing calls to quit after the crisis at the utility’s Fukushima Dai-Ichi nuclear plant capped a tenure that has seen $29 billion wiped off the company’s market value.
Tokyo Electric Power Co., facing a $20-billion-and-counting compensation bill for the Fukushima disaster, has a week to produce a business plan that includes a request for government aid and will lead to nationalization of what was once the world’s biggest private power producer.
Damaged reactors at the crippled Fukushima Dai-Ichi nuclear plant may take three decades to decommission and cost operator Tokyo Electric Power Co. more than 1 trillion yen ($12 billion), engineers and analysts said.
Tokyo Electric Power Co . will be monitored by the government as a condition for state financial aid to ensure full compensation will be paid to those affected by the world’s worst nuclear disaster in 25 years.
Tokyo Electric Power Co .’s choice of a 36-year company veteran to resolve the worst nuclear crisis since Chernobyl and avert bankruptcy prompted calls for the government to take a more direct role in managing the utility.
Tokyo Electric Power Co . said the company’s chairman and president will take no pay from this month, extending salary cuts as the utility seeks government funding to cope with the crisis at the Fukushima nuclear plant.