Tag Archives: Ethan A. Huff – Fukushima Owner Boasts $4.3 Billion Profit From Rate Hikes

NaturalNews – Ethan A. Huff – Fukushima Owner Boasts $4.3 Billion Profit From Rate Hikes, Government Bailouts – 4 May 2014

Naturalnews-Logo2(NaturalNews) The company that owns and is responsible for cleanup efforts at the stricken Fukushima Daiichi nuclear power facility in Japan is reportedly raking in at least $4.3 billion in net profits annually, according to The Economic Times. Thanks to steady rate hikes and a large government bailout following the disaster, the Tokyo Electric Power Company (TEPCO) has done quite well for itself in recent years, despite continued blunders involving radiation cleanup and containment measures at the plant.

Following the 2011 disaster, TEPCO was having a difficult time staying afloat. This prompted the Japanese government to throw 1.8 trillion yen, the equivalent of about $17.6 billion, at the company to compensate for its unprecedented losses, not to mention to cover the costs associated with ensuring that Fukushima radiation did not spoil the whole planet. TEPCO also raised electricity rates throughout Japan to gather more cash. Continue reading