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Friday, 31 January 2014

Fukushima operator books $7.54 bn profit on bailout, price hike


(AFP) – 17 hours ago  
Tokyo — Tepco, the operator of Japan's crippled Fukushima nuclear plant, said Friday it booked a whopping $7.54 billion April-December profit owing to an electricity rate hike and its massive government bailout.
Tokyo Electric Power (Tepco) was teetering on the brink as cleanup and compensation costs stoked huge losses and threatened to collapse the sprawling utility until Tokyo stepped with a multi-billion dollar rescue.
The company at the centre of the worst nuclear accident in a generation said it earned 772.9 billion yen ($7.54 billion) in the nine months to December, compared with a net loss of 2.2 billion yen in the same period a year earlier.
Sales rose 10.8 percent to 4.8 trillion yen.
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Remember: This is without ONE single running reactor......

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