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| Tepco seeks an extra $9bn in aid to pay compensation | Tepco seeks an extra $9bn in aid to pay compensation |
| (40 minutes later) | |
| Tokyo Electric Power Company (Tepco) has asked the government for an extra 690bn yen ($9bn; £5.6bn) to compensate victims of the nuclear crisis. | Tokyo Electric Power Company (Tepco) has asked the government for an extra 690bn yen ($9bn; £5.6bn) to compensate victims of the nuclear crisis. |
| The firm has already received $7.1bn in public funds, and there is growing speculation it may be nationalised. | |
| Tepco controls the Fukushima Daiichi nuclear plant, and is facing almost $100bn in compensation claims. | |
| The plant was damaged by the March tsunami and some 80,000 people had to be evacuated after a radiation leak. | The plant was damaged by the March tsunami and some 80,000 people had to be evacuated after a radiation leak. |
| "We have reviewed the estimated sum of compensation after the committee addressing compensation disputes decided on additional measures to compensate victims who voluntarily evacuated," Tepco said in a statement. | "We have reviewed the estimated sum of compensation after the committee addressing compensation disputes decided on additional measures to compensate victims who voluntarily evacuated," Tepco said in a statement. |
| Desperate times | Desperate times |
| Tepco, Japan's biggest utility provider, has been facing an uncertain future since the March earthquake and tsunami. | Tepco, Japan's biggest utility provider, has been facing an uncertain future since the March earthquake and tsunami. |
| Last week, the company announced that it was raising electricity prices for corporate clients for the first time in more than 30 years, due to a higher cost of operations. | Last week, the company announced that it was raising electricity prices for corporate clients for the first time in more than 30 years, due to a higher cost of operations. |
| The quake and tsunami forced it to shut 15 of its 17 nuclear power plants, and resort to thermal power stations for electricity generation, increasing its fuel costs. | The quake and tsunami forced it to shut 15 of its 17 nuclear power plants, and resort to thermal power stations for electricity generation, increasing its fuel costs. |
| To make matters worse, a panel investigating the Fukushima nuclear disaster has chastised the company for being ill-prepared for such a calamity. | To make matters worse, a panel investigating the Fukushima nuclear disaster has chastised the company for being ill-prepared for such a calamity. |
| It said response failures and the general lack of preparedness worsened the effects of the nuclear accident at the Fukushima nuclear plant. | It said response failures and the general lack of preparedness worsened the effects of the nuclear accident at the Fukushima nuclear plant. |
| Nationalisation? | Nationalisation? |
| Tepco provides almost one-third of Japan's electricity, and powers some of the most economically important areas of the country. A failure of the company is likely to have disastrous consequences. | Tepco provides almost one-third of Japan's electricity, and powers some of the most economically important areas of the country. A failure of the company is likely to have disastrous consequences. |
| That has led to growing speculation that the government may take over the firm. | That has led to growing speculation that the government may take over the firm. |
| The Nikkei business daily has reported that Japan's trade and industry minister Yukio Edano will urge the company to accept an injection of public funds to ease its burden. | The Nikkei business daily has reported that Japan's trade and industry minister Yukio Edano will urge the company to accept an injection of public funds to ease its burden. |
| Mr Edano is scheduled to meet with Tepco's president, Toshio Nishizawa, on Tuesday, following a meeting of cabinet ministers about Tepco and electricity reform. | Mr Edano is scheduled to meet with Tepco's president, Toshio Nishizawa, on Tuesday, following a meeting of cabinet ministers about Tepco and electricity reform. |
| Last week, Japanese media reported that the government may pick up a two-thirds stake in Tepco, a move that analysts say would result in de-facto nationalisation of the company. | Last week, Japanese media reported that the government may pick up a two-thirds stake in Tepco, a move that analysts say would result in de-facto nationalisation of the company. |
| Tepco and the government had both denied the reports at that time. | Tepco and the government had both denied the reports at that time. |