The Tokyo Electric Power Co (TEPCO), the operator of a nuclear power plant that caused the world's worst nuclear accident since Chernobyl, was to seek a capital injection of 1 trillion yen (12.07 billion dollars) from a state-backed fund Thursday to stave off insolvency, dpa cited news reports as saying. The company needs the financial assistance to cover costs associated with the disaster at its Fukushima Daiichi Nuclear Power Station, which went into meltdown and began leaking radioactive materials after it was hit a year ago by an earthquake and tsunami. TEPCO was also to ask for 850 billion yen to help with mounting costs for decommissioning the damaged reactors and cleaning up the radiation and to pay massive compensation payments to those affected by the disaster. TEPCO is also facing massively increased fuel costs for thermal power generation after shutting down all 17 of its nuclear reactors, including all six at the damaged Fukushima plant, 250 kilometres north-east of Tokyo. The company shut down its last running reactor Monday for a scheduled checkup. One of Japan's 54 reactors remains in service as utilities have been unable to reactivate units after maintenance shutdowns because of growing public concern about atomic power after last year's disaster.
