TEPCO reports $7.4bn quarterly loss

Tokyo Electric Power Co. (TEPCO) said August 9 it posted losses for 1Q 2011 equal to ¥571.7 billion ($7.4 billion) for cleanup and compensation of victims following the nuclear crisis at the Fukushima Daiichi nuclear power plant in Japan.

The utility said in a statement that it had booked a one-time loss of $6.5 billion in charges associated with the disaster. In May, the company reportedly said it had booked a loss of $16.2 billion for the year through March.

TEPCO has said it would raise at least another $7.8 billion by cutting costs and selling assets.

To date, TEPCO has reportedly paid $917.3 million in compensation to victims of the disaster from a fund approved by the Japanese Parliament on August 4. The government initially contributed $26 billion to the fund.

Subscribe to Nuclear Power International magazine

Sponsored by FLSmidth

Related Articles

 Mayors: Closure of Illinois nuclear plants would hurt cities

Mayors: Closure of Illinois nuclear plants would hurt cities

Mayors of six Illinois communities are warning of potential economic consequences if three nuclear power plants close in their areas.

Paks Nuclear Power Plant joins EPRI research program

The Paks Nuclear Power Plant in Hungary has joined the nuclear research program at the Electric Power Research Institute (EPRI).

Follow Power Engineering on Twitter
Latest News
Ideal Power energy storage batteries agreement

Agreement signed to develop energy storage solutions

Ideal Power (Nasdaq: IPWR) signed an agreement that will allow KACO to sell its products unde...
EPA must redo air pollution limits in 13 states

Court orders EPA to redo air-pollution limits in 13 states

A federal appeals court on Tuesday ordered the Environmental Protection Agency to relax some ...
Fukushima Daiichi nuclear power plant decommissioning TEPCO

First step taken in Fukushima nuclear decommissioning project

The decommissioning project at the Fukushima Daiichi power plant in Japan begins a crucial st...
Baltimore Ravens onsite solar project Constellation

Baltimore Ravens greenlight onsite solar project

Constellation, a retail energy supplier, and the Baltimore Ravens today announced an agreemen...
SCE claims $7.5bn in damages for SONGS from MHI

SCE claims $7.57B in damages for SONGS

Southern California Edison (SCE) and Edison Material Supply LLC (EMS) claimed damages of $7.5...
Plainfield Renewable Energy Plant biomass

Sale of Connecticut biomass power plant completed

Greenleaf Power finalized the purchase of the Plainfield Renewable Energy Plant in Connecticu...
USACE approves bearings for hydropower turbine wicket gates

Corps of Engineers approves GGB bearings for hydropower turbines

The U.S. Army Corps of Engineers (USACE) has approved GGB Bearing Technology’s new HPMB™ fila...
Demand response system picked for Hydro Ottawa utility

Demand response system picked for Canadian utility

Hydro Ottawa picked Opower (NYSE: OPWR) to develop a demand response solution in collaboratio...

Power Engineering Current Issue

02/01/2015
Volume 119, Issue 2
1502PE-cover
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015

Buyers Guide Product Listings

Nondestructive Examination and Testing

Advanced nondestructive examination, NDE, techn...

Engineering Services

Structural Integrity Associates, Inc. (SI) is a...

Buyers Guide Company Listings

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>