Arab Today, arab today tepco expects 895bn loss
Last Updated : GMT 19:41:09
Arab Today, arab today
Arab Today, arab today

Tepco expects $8.95bn loss

Arab Today, arab today

Arab Today, arab today Tepco expects $8.95bn loss

Tokyo - AFP

TEPCO, the operator of the crippled Fukushima Daiichi nuclear plant on Japan\'s northeast coast, said on Monday it expects to post a net loss of $8.95 billion in the year to March. The company said its shortfall would be 695 billion yen, in a year during which it has faced massive costs to deal with reactor meltdowns, as well as increased imports of fossil fuels to make up for a nuclear power shortfall. The group net loss forecast is worse than a previous prediction for a 600 billion yen shortfall and reflects an increase in projected compensation payouts to those affected by the world\'s worst atomic disaster in a generation. Earlier on Monday, Tokyo said it had approved a fresh 690 billion in aid for TEPCO to help it meet compensation claims. The utility said its sales declined 4.0 percent from a year earlier in the first three quarters to 3,800.8 billion yen as \"customers cooperated in saving electricity and industrial activity declined,\" it said in a statement. Sales of electricity dropped 5.4 percent from a year earlier to 3,371.6 billion yen in the three quarters. On the expenditure side, TEPCO cut personnel costs by reducing salaries and bonuses and also cut procurement and operational costs. \"But a decline in nuclear power generation led to a large increase in fuel costs,\" the company said. The bulk of Japan\'s nuclear reactors are offline in the wake of the crisis at Fukushima, with local communities unwilling to give the green light for them to be restarted after safety checks. This has meant electricity companies have been forced to ramp up their use of thermal fuels, such as coal, which has added to their costs. TEPCO said it had recorded an extraordinary profit of 1,619.5 billion yen including 1,580.3 billion yen it is to receive from the state to help it meet compensation claims. On the other side of the ledger it showed an extraordinary loss of 2,001.6 billion yen, including 1,644.5 billion yen it expects to pay out in compensation and 312.2 billion yen needed to repair assets damaged by earthquake-tsunami of March 11 last year. In the year to March 2012, TEPCO \"expects electricity demand to remain relatively weak after the first three quarters\" with annual electricity sales estimated at 264.5 billion kilowatt-hours, down from a previously forecast of 267.1 billion kilowatt-hours. As a result, annual consolidated revenue is estimated at about 5,280 billion yen, down from a previous forecast of about 5,315 billion yen.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today tepco expects 895bn loss Arab Today, arab today tepco expects 895bn loss

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal

GMT 15:47 2017 Wednesday ,22 February

Airbus faces challenges as it enters new era
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday