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Japan's atomic operator told to pay compensation

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Japan's atomic operator told to pay compensation


The operator of Japan’s crippled nuclear energy plant has been ordered to pay compensation to people forced to evacuate because of radiation fears.

A government-backed insurance fund is aimed at saving Tokyo Electric from collapse by having the state initially shoulder the massive bill.

Announcing the measure, the Chief Cabinet Secretary Yukio Edano said payments could be set at about one million yen (8 thousand euros) per household, with all those living in a 30 kilometre radius eligible.

More than 200,000 people were living within Fukushima’s exclusion zone before the disaster struck. What is not yet clear, however, is how much TEPCO will have to ultimately pay in compensation, which would help determine the outlook for its credit rating. If the crisis drags on, some experts estimate it could cost TEPCO around 20 billion euros in compensation losses.

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