Japan to Boost Nuclear Accident Compensation Fund

[kristopher]

Japan to Boost Nuclear Accident Compensation Fund

By Naoko Fujimura

July 26 (Bloomberg) -- Japan plans to increase mandatory contributions to a fund for compensating victims of accidents at nuclear power plants, Kyodo News said.

The government aims to boost payments by electric power producers to as much as 120 billion yen ($1.1 billion) next year from 60 billion yen, Kyodo reported, citing government officials it didn't identify. It would be the first change in the fund since 1999, Kyodo said.

Japan decided to increase the fund after it paid out more compensation than expected for a 1999 accident at a uranium- processing plant in Ibaraki Prefecture, northeast of Tokyo, the report said.

In September 1999, two workers of JCO Co., a unit of Sumitomo Metal Mining Co., died from radiation poisoning after pouring uranium from a bucket into a processing tank. The fuel reprocessing plant has since been dismantled.


http://www.bloomberg.com/apps/news?pid=20601101&sid=aR1f6mUvZJeU&refer=japan