Japanese power utility Tokyo Electric Power (TEPCO) estimates that the costs of cleaning up its Fukushima Daiichi nuclear site in northern Japan could rise from the current US$766m/year to several billion dollars per year, due to costs related to melted nuclear fuel debris removal. A new estimate for decommissioning costs is expected to be released by the end of 2016. The dismantling and decommissioning process should take around 40 years, but TEPCO is still struggling to contain radioactive water from the plant.
TEPCO has facing soaring costs since the accident (first decommissioning costs, expensive fossil fuel purchase for its thermal power fleet) with reduced resources (its entire nuclear fleet offline). In May 2012, the Japanese government approved the injection of Yen 1,000bn (US$8bn) in return for a 51% stake in the company. TEPCO's nuclear activities could be spun off to make easier the sale of the subsidiary or the merger with other companies.
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