Japan utility gets $12.8 bln nuclear crisis bailout

July 31, 2012, Tuesday/ 15:47:00

The Japanese utility that operates the nuclear power plant sent into meltdown by last year's tsunami says it has received a trillion yen ($12.8 billion) public bailout.

Tokyo Electric Power Co. apologized Tuesday for the "inconvenience and anxiety" from the disaster at the Fukushima Dai-ichi plant in northeastern Japan, and for raising electricity charges to cover the costs of dealing with the crisis. The company, now under government control, still faces massive compensation demands from those forced to evacuate and whose land and products were contaminated by spewing radiation following the disaster that began March 11 last year.

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