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Japan officials draw up Tepco breakup plan
by hlk Mon 04 Jul 2011, 09:24
TOKYO: A group of Japanese government heavyweights have written a secret proposal to break up Tokyo Electric Power Co and nationalise its nuclear operations, a newspaper said on Sunday.
The plan, drawn up by Deputy Chief Cabinet Secretary Yoshito Sengoku, would force Tokyo Electric sell its power distribution business and bring its nuclear power operations under state control, leaving the company with power generation operations using thermal and hydraulic power plants.
It would leave Tokyo Electric, better known as Tepco, with only 1.6 trillion yen in power business assets compared with 7 trillion yen at present, the Mainichi daily said, citing informed sources. -- Reuters
The plan, drawn up by Deputy Chief Cabinet Secretary Yoshito Sengoku, would force Tokyo Electric sell its power distribution business and bring its nuclear power operations under state control, leaving the company with power generation operations using thermal and hydraulic power plants.
It would leave Tokyo Electric, better known as Tepco, with only 1.6 trillion yen in power business assets compared with 7 trillion yen at present, the Mainichi daily said, citing informed sources. -- Reuters
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