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Tokyo Electric Power Company, Incorporated Message Board

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  • johnmg47 johnmg47 May 13, 2011 7:31 PM Flag

    according to FT read 3.55 am


    " Chief Cabinet Secretary Yukio Edano reportedly told (said) a press conference that the utility (9501) (TKECY) shouldn’t receive any injection of public funds before (UNTIL) its lenders made more efforts, such as WAIVING SOME OF ITS DEBTS from before the March 11 disaster."

    In other words, "Mr. Bankers, tsunami victims, and TEPCO shareholders, I'm kinda thinkin (trial balloon) that the government shouldn't give you characters a red cent until you eat some of TEPCO's debt payments yourself". He's trying to hold Tepco and the banks hostage.

    "Under the support plan, a STATE-BACKED institution WILL FUND the utility BY BORRWING PUBLIC FUNDS that it can in turn loan to Tepco. "

    This is the key sentence. They are loaning the money to TEPCO, but TEPCO is not the borrower - the state institution is the borrower, and they are LOANING the money to TEPCO. But it is my understanding that the $2.4BL over 13 years is what TEPCO is going to pay the fund in return.

    You're right, it's confusing, but I just can't believe that the company would agree to something so injurious financially - no cap on liability limits and government support only in terms of LOANS that must be paid in full 100% to the government. I don't get it. That's no deal at all. They are putting the entire responsibility onto the utility industry.

    " Other utilities operating nuclear-power plants will also pay into a fund, and the government will issue special-purpose bonds that Tepco can use to pay damages." What are the terms of those special purpose bonds?

3.75Jul 31 2:46 PMEDT

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