Tokyo Electric Power Company
Tokyo Electric Power Co., Ltd. (東京電力株式会社, Tōkyō Denryoku Kabushiki-gaisha?, TYO: 9501), also known as Toden (東電, Tōden?) or TEPCO, is a Japanese electric utilities servicing Japan's Kantō region, Yamanashi Prefecture, and the eastern portion of Shizuoka Prefecture. This area includes Tokyo. Its headquarters are located in Uchisaiwaicho, Chiyoda, Tokyo, and international branch offices exist in Washington, D.C., and London. It is a founding member of strategic consortiums related to energy innovation and research; such as JINED, INCJ and MAI.
In 2007, TEPCO was forced to shut the Kashiwazaki-Kariwa Nuclear Power Plant after the Niigata-Chuetsu-Oki Earthquake. That year it posted its first loss in 28 years. Corporate losses continued until the plant reopened in 2009. Following the March 2011 Tōhoku earthquake and tsunami, its power plant at Fukushima Daiichi was the site of a continuing nuclear disaster, one of the world's most serious. TEPCO could face ¥2 trillion ($23.6 billion) in special losses in the current business year to March 2012, and the Japanese government plans to put TEPCO under effective state control to guarantee compensation payments to the people affected by the accident. The Fukushima disaster displaced 50,000 households in the evacuation zone because of radiation leaks into the air, soil and sea.
In July 2012 TEPCO received ¥1 trillion from the Japanese government. TEPCO's management subsequently made a proposal to its shareholders for the company to be part-nationalized. The total cost of the disaster was estimated at $100bn in May 2012.
Read more about Tokyo Electric Power Company: History, Corporate Overview, Salary Pay Cuts, Sale of Hospital, Power Stations and Generation Capacity, Offices, Electric Vehicle Batteries and Recharging, The City of Tokyo: Second Largest Shareholder, Tepco To Cancel Nuclear Promotion Abroad
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