The Ministry of Economy, Trade and Industry (METI) of Japan has revised again its costs projections related to the Fukushima nuclear disaster to Yen 21,500bn (US$188bn). The costs, initially estimated at Yen 11,000bn in 2013 (Yen 2,500bn for decontamination works, Yen 1,100bn for the construction of interim radioactive waste storage, Yen 2,000bn for decommissioning works and Yen 5,400bn for compensation payments), were raised to more than Yen 20,000bn (US$175bn) in late November 2016.
The new cost estimates double the initial projection: decommissioning costs have soared from Yen 2,000bn to Yen 8,000bn (US$70bn), compensation payments to Yen 7,900bn (US$69bn) and the treatment and storage of contaminated soil to Yen 5,600bn (US$49bn).
Japanese utility TEPCO, the operator of the Fukushima nuclear plant, will have to pay Yen 15,900bn (US$138bn), passing part of the cost on to consumers through tariff increase. Other major utilities will need to pay Yen 3,700bn (US$32bn), while new power companies will have to pay Yen 240bn (US$2bn).
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