TEPCO leaders vow to achieve business turnaround under new plan
TOKYO (Kyodo) -- Top officials of Tokyo Electric Power Co. on Monday expressed their resolve to achieve a new business plan that is expected to set out a course for the utility's revitalization after the 2011 Fukushima Daiichi nuclear power plant disaster.
In his New Year's address to employees, TEPCO Chairman Kazuhiko Shimokobe said, "This new business plan is expected to be endorsed by the government after the middle of this month...With you all, I will do my utmost to achieve it."
He delivered the speech to around 200 employees at the utility's Fukushima Daini plant, located near the crippled Fukushima Daiichi plant. Footage was shown live at its Tokyo head office.
The plan, submitted in December, will replace an earlier one that needed to be revamped due partly to a large delay in restarting the utility's idled Kashiwazaki-Kariwa plant in Niigata Prefecture.
The plan was handed by TEPCO and a state-backed bailout fund to Economy, Trade and Industry Minister Toshimitsu Motegi. While its contents will be announced only after Motegi approves it, it is certain to refer to expanded state support to the ailing utility.
TEPCO President Naomi Hirose, who delivered a speech after Shimokobe, said the plan shows relatively clearly the utility's future over the next 10 to 20 years, including how it will emerge from the current effective state control.
"We are at the stage of working out concrete action plans at the level of each workplace, organization and individual to steer TEPCO, as a whole, in the direction (of realizing the plan)," Hirose said.
As a result of the Fukushima nuclear crisis, TEPCO is saddled with trillions of yen of compensation payments and costs to clean up radiation-contaminated land outside the Fukushima plant.
The company is also facing heavy outlays for importing fossil fuel to boost thermal power generation to make up for the loss of nuclear power after the devastating accident.
To bolster its financial standing, TEPCO received a 1 trillion yen capital injection from the state-backed Nuclear Damage Liability Facilitation Fund in 2012, falling under effective state control.
January 06, 2014(Mainichi Japan)