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Thu, Jan. 16, 10:45 AM
- Tokyo Electric Power (TKECF, TKECY) wins government approval for a restructuring that will help pave the way for another ¥4T ($38.3B) in additional state funding.
- An important part of the plan is for the restart of two reactors at another facility in northern Japan, which faces strong criticism after the company failed to take proper precautions at the Fukushima plant, which was hit by an earthquake and tsunami in 2011.
- The new plan does not offer a clear path for a return to financial health as Tepco struggles with the high costs of cleaning up Fukushima and compensating those in the area affected by the release of high levels of radiation.
Sep. 4, 2013, 3:26 AM
- Radiation levels around tanks holding contaminated water at Tokyo Electric Power's (TKECF.PK) crippled Fukushima nuclear plant have spiked to 2,200 millisieverts (mSv) from 1,800 mSv on Sunday. Either level would be enough to kill an unprotected person within hours.
- A major problem is that the tanks are leaking huge amounts of contaminated water into the sea and into the surrounding groundwater.
- Yesterday, the government said it would take charge of the 2 1/2 year clean-up process and provide almost $500M for two big projects — a ring of frozen ground to protect groundwater from radiation and a plant to filter out radioactive elements.
- However, there is a long list of other expensive tasks that need to be carried out. The question is whether the government will provide the necessary money.
Aug. 27, 2013, 8:37 AM
- Japan's government will provide money and personnel to help cope with rising amounts of contaminated water at the Fukushima nuclear power plant after losing confidence in Tepco's (TKECF.PK, TKECY.PK) ability to handle the situation on its own.
- The trade minister says the latest leak of 300 metric tons of highly contaminated water "could have been prevented" if Tepco had been more careful, pointing out that the 1,000 tons/day of groundwater flowing into the site presents a serious problem.
- Related: URA, NLR, NUCL, CCJ, DNN, URS, LTBR, URG, UEC, URRE, USU.
Aug. 21, 2013, 8:11 AM
- Nearly 80K gallons of highly radioactive water have leaked from the crippled Fukushima Daiichi nuclear plant, the latest black eye for Tepco (TKECF.PK, TKECY.PK), which has struggled to contain contaminated groundwater experts believe is flowing into the sea from the site every day.
- Japan is set to raise the severity rating of the leak to level 3, or "serious incident," underlining a deepening sense of crisis at the site.
- Revelations of more toxic leaks may raise second-thoughts about Japan's nuclear future but won't halt the long-term global expansion of the industry, uranium (URA, NLR, NUCL) insiders say.
- Related Stocks: CCJ, DNN, URS, LTBR, URG, UEC, URRE, USU.
Aug. 7, 2013, 12:51 PM
- USEC (USU +12.7%), Uranium Resources (URRE +7.2%) and some other uranium peers (URA) are moving amid news that the Fukushima Dai-Ichi nuclear facility is still leaking radioactive groundwater into the Pacific Ocean.
- StreetInsider.com says positive sentiment may stem from comments by Japan PM Abe, who says the leakage is an urgent problem that must be addressed by a government strategy and not left solely to Tepco (TKECY.PK).
- Fukushima is leaking ~300 tons/day of radioactive water into the ocean, Japan's economy ministry says.
Jul. 10, 2013, 10:59 AMMasao Yoshida, the plant manager who led the fight to bring the reactors at Tepco's (TKECY.PK) Fukushima atomic station under control during the 2011 nuclear disaster, has died of cancer. He was 58. The company says the illness was unrelated to radiation exposure after the nuclear accident. Yoshida led a group that became known as the "Fukushima Fifty," who who stayed behind and risked their lives to bring the reactors under control. | 2 Comments
Feb. 8, 2013, 8:20 AMTepco's deal to import liquefied natural gas from the proposed Cameron LNG project (SE) in the U.S. starting in 2017 could have wider repercussions in the global LNG market by helping break the link between oil and LNG and eventually helping to bring world LNG prices down, Macquarie Research says. The project in Louisiana has yet to gain the government's approval for export. | 1 Comment
Dec. 7, 2012, 4:56 AM
Oct. 8, 2012, 9:50 AMTepco reportedly is in talks with Cheniere Energy (LNG), Sempra Energy (SRE) and other U.S. energy firms to import shale gas, as it seeks to hold down fuel costs and reduce high electricity charges. Tepco was forced to raise household power rates in September, and cheap U.S. shale imports likely would allow it to reduce costs. | Comment!
Jun. 30, 2012, 2:13 PMTokyo Electric Power (TKECY.PK) says its cooling system for the spent fuel pool at its crippled Fukushima Daiichi power plant's No. 4 reactor automatically suspended operation Saturday, and it's been unable to activate a backup cooling system. Officials say it's unlikely the temperature will rise rapidly, and no leakage of water with radioactive materials has yet been found. If Tepco can't cool the pool, the temperature could reach the upper limit of designated safety regulations. | 9 Comments
Jun. 25, 2012, 7:38 PMJapan plans to turn its nuclear power back on this weekend, as Osaka-based Kansai Electric Power (KAEPY.PK) will restart the first reactor to come online since the nation's nuclear hiatus began in May. Japan began shutting its nuclear facilities after the March 2011 earthquake and tsunami caused the nation's worst-ever nuclear crisis at the Fukushima Daiichi power plant. | 1 Comment
Jun. 18, 2012, 5:08 AM
May. 23, 2012, 7:37 PMTokyo Electric Power (TKECY.PK) become the first utility to hike power rates for its customers in response to Japan's looming power crisis. The utility behemoth plans to raise rates for some heavy users by 12% starting in July, while the average rate increase for typical household customers will come to 6.9%. | Comment!
May. 16, 2012, 10:11 AMTokyo Electric Power (TKECY.PK), Mitsubishi (MBFJF.PK) and shipping company Nippon Yusen (NPNYY.PK) are in talks to pay $4.4B for a stake in Chevron's (CVX +1.2%) Wheatstone natural gas project in Australia. It's one of several Australian LNG projects aiming to meet rising Asian demand, as Japan ramps up thermal power generation after the Fukushima disaster shut all its nuclear stations. | 1 Comment
May. 9, 2012, 11:54 AMJapan approves the bailout and nationalization of Tokyo Electric Power (TKECY.PK) whereby the government will inject $12.6B into the utility, which operated the doomed Fukushima nuclear plant, in return for a majority of voting rights. The government will surrender control of Tepco once it has regained enough credibility to issue bonds. | Comment!
Apr. 19, 2012, 7:30 PMAfter a difficult search, struggling Japanese utility Tokyo Electric Power (TKECY.PK) says one of the officials in charge of their bailout has been selected to lead the company as chairman. The new chief, Kazuhiko Shimokobe, is one of seven board members running the fund backing Tepco, which has struggled near the brink of collapse from last year's catastrophe at its Fukushima Daiichi nuclear plant. Shares +11.5% AH. | Comment!
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