Fukushima nuclear clean-up may rise to several billion dollars a year: government via Reuters

By Kentaro Hamada and Osamu Tsukimori | TOKYO

The cost of cleaning up Tokyo Electric Power’s wrecked Fukushima Daiichi nuclear plant may rise to several billion dollars a year, the Japanese government said on Tuesday, adding that it would look into a possible separation of the nuclear business from the utility.

A possible move to spin off Tepco’s nuclear business into a subsidiary could make it easier to sell or merge it with other companies in the future.

Government officials said the possible move, discussed at a panel meeting on Tuesday, is in line with Tepco’s plan to look into all possibilities for its businesses.

 The decommissioning costs for Fukushima plant may rise significantly from less $800 million per year now, as works to remove nuclear fuel debris push up costs, the industry ministry said in documents prepared for the panel tasked with devising a viable financial plan for Tepco.
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