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Posted: 26 Dec 2013 06:44 AM
PST
Tokyo Electric submitted a new
10 year restructuring plan to the Nuclear Damage Liability Facilitation Fund
on Tuesday which eyes the creation of a special decommissioning unit to
manage the work at the crippled Fukushima Daiichi nuclear power plant.
The plan, which was approved by
TEPCO’s board, proposes the creation of a holding company which is split into
several subdivisions each dedicated to specific tasks; as well as the restart
of two reactors at the Kashiwazaki-Kariwa nuclear power plant in Niigata
Prefecture.
The government is expected to
rule on the plan next month.
Under its current structure,
TEPCO is unlikely to raise money through bond markets due to poor credit and
high risk. If TEPCO were unable to restructure and forced to go under,
it would greatly impact many of its lenders.
Almost three years after the
March 11th disaster in Japan, the final costs of decommissioning
the reactors at Fukushima Daiichi and cleaning up the site and residential
land contaminated by radioactive materials are still unknown.
The Environment Ministry of
Japan announced on Thursday that the decontamination of some evacuated areas
will be delayed by at least three years. The original plan called for work to
be finished by March of 2014, but the new estimates say operations will not
be completed until 2017 at the earliest.
The post TEPCO submits
new restructuring plan to Nuclear Damage Liability Facilitation Fund
appeared first on Enformable.
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