Fukushima owner boasts $4.3 billion profit from rate hikes, government bailouts

Fukushima owner boasts $4.3 billion profit from rate hikes, government bailouts

 (NaturalNews) The company that owns and is responsible for cleanup
efforts at the stricken Fukushima Daiichi nuclear power facility in
Japan is reportedly raking in at least $4.3 billion in net profits
annually, according to The Economic Times. Thanks to steady rate
hikes and a large government bailout following the disaster, the Tokyo
Electric Power Company (TEPCO) has done quite well for itself in recent
years, despite continued blunders involving radiation cleanup and
containment measures at the plant.

Following the 2011 disaster,
TEPCO was having a difficult time staying afloat. This prompted the
Japanese government to throw 1.8 trillion yen, the equivalent of about
$17.6 billion, at the company to compensate for its unprecedented
losses, not to mention to cover the costs associated with ensuring that
Fukushima radiation did not spoil the whole planet. TEPCO also raised
electricity rates throughout Japan to gather more cash.