TEPCO may sell thermal plants

• 13 years ago (2011-12-07)
• David Flin

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The Yomiuri newspaper has reported that Tokyo Electric Power Corporation (TEPCO) may sell some of its thermal power plants to raise funds for compensation payments after the Fukushima disaster. It said that TEPCO will decide which plants will be sold by the end of March 2012. Yomiuri said TEPCO will buy electricity from IPPs through tenders after the sale.

According to an estimate by a government panel, TEPCO may have to pay at least $58 billion compensation to those affected by the Fukushima disaster.

According to a business plan released by TEPCO in November, the utility plans to sell assets worth $9 billion to raise funds for the compensation payment. At the time, TEPCO said it may also sell power generation assets. TEPCO said that it is not planning to sell generation assets immediately because currently it has insufficient capacity, but that it may consider the sales in the medium and long term.