May 9th, 2012
Kyodo News
By Miya Tanaka
Ailing Tokyo Electric Power Co. is expected to expedite its restructuring by receiving 1 trillion yen in public funds, but uncertainties remain over the utility’s future and Japan’s drive to overhaul the whole power industry.
The capital injection into Japan’s largest utility known as TEPCO will increase the government’s responsibility in steering the owner of the crippled Fukushima Daiichi nuclear power plant, as the move will lead to it getting a majority ownership stake, giving the government power to intervene in management.