Tepco Plan Wins Approval for Post-Disaster Recovery
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Tokyo Electric Power Co. won the support of the government and banks for a plan to rebuild its business, the latest step in the recovery from the nuclear disaster three years ago that almost destroyed the company.
The agreement between the utility, now under government control, and its biggest lenders includes more than 1 trillion yen ($9.6 billion) in cost cuts. The plan hinges on the restart of two reactors in July at the Kashiwazaki-Kariwa nuclear plant, the world’s biggest. Most of the public oppose restarts of Japan’s 48 reactors, which are all offline for safety checks.