ID :
199013
Wed, 08/03/2011 - 18:10
Auther :
Shortlink :
https://oananews.org//node/199013
The shortlink copeid
Law to facilitate nuclear disaster compensation enacted
TOKYO, Aug. 3 Kyodo - Legislation designed to facilitate compensation to people and businesses affected by the ongoing nuclear disaster was enacted in parliament on Wednesday.
A new entity tasked with securing funds for compensation, a key component of the government-led redress program, will be set up by the end of this month at the earliest to begin disbursing sums of money to recipients over the country's worst nuclear power accident.
The measure was approved in the House of Councillors with the support of legislators across party lines, including members of the ruling Democratic Party of Japan, the main opposition Liberal Democratic Party and New Komeito, a smaller opposition party.
The enactment has put the spotlight on industry minister Banri Kaieda, who indicated early last month that he will resign from the Cabinet post at some point to take responsibility for the stalled restart of nuclear reactors operated by Kyushu Electric Power Co. Passage of the bill is seen as one of the conditions for Kaieda to resign.
The new framework has been designed to help Tokyo Electric Power Co., the operator of the crippled Fukushima Daiichi nuclear power plant in Fukushima Prefecture, provide compensation to people and businesses in difficulty without going out of business.
The new entity will provide financial assistance to Tokyo Electric only after the minister in charge approves a compensation fund program drawn up by the utility and the entity. But this approval is premised on thorough restructuring and cost-cutting efforts on the part of the utility.
Under the framework, Tokyo Electric and other utilities with nuclear reactors will pay their share to the new entity annually, while the government would issue interest-free bonds to raise the necessary funds.
While details of the share that each utility will shoulder have yet to be worked out, some of the expected cost increase may eventually come from higher bills for electricity users.
A resolution was attached to the legislation saying that another law on nuclear accident compensation that specifies unlimited liability for atomic power operators will be reviewed in roughly a year.
Measures should be taken in roughly two years to minimize the financial burden on the public under the new law by reviewing the extent to which Tokyo Electric shareholders and the utility's lenders should be involved.
A new entity tasked with securing funds for compensation, a key component of the government-led redress program, will be set up by the end of this month at the earliest to begin disbursing sums of money to recipients over the country's worst nuclear power accident.
The measure was approved in the House of Councillors with the support of legislators across party lines, including members of the ruling Democratic Party of Japan, the main opposition Liberal Democratic Party and New Komeito, a smaller opposition party.
The enactment has put the spotlight on industry minister Banri Kaieda, who indicated early last month that he will resign from the Cabinet post at some point to take responsibility for the stalled restart of nuclear reactors operated by Kyushu Electric Power Co. Passage of the bill is seen as one of the conditions for Kaieda to resign.
The new framework has been designed to help Tokyo Electric Power Co., the operator of the crippled Fukushima Daiichi nuclear power plant in Fukushima Prefecture, provide compensation to people and businesses in difficulty without going out of business.
The new entity will provide financial assistance to Tokyo Electric only after the minister in charge approves a compensation fund program drawn up by the utility and the entity. But this approval is premised on thorough restructuring and cost-cutting efforts on the part of the utility.
Under the framework, Tokyo Electric and other utilities with nuclear reactors will pay their share to the new entity annually, while the government would issue interest-free bonds to raise the necessary funds.
While details of the share that each utility will shoulder have yet to be worked out, some of the expected cost increase may eventually come from higher bills for electricity users.
A resolution was attached to the legislation saying that another law on nuclear accident compensation that specifies unlimited liability for atomic power operators will be reviewed in roughly a year.
Measures should be taken in roughly two years to minimize the financial burden on the public under the new law by reviewing the extent to which Tokyo Electric shareholders and the utility's lenders should be involved.
