March 16, 2012 / 5:48 PM / 6 years ago

UPDATE 1-TEPCO to request 700 bln yen additional funding - Nikkei

March 17 (Reuters) - Tokyo Electric Power Co (TEPCO) may seek more than 700 billion yen ($8.40 billion) more from the Nuclear Damage Liability Facilitation Fund, in line with new guidelines for compensation to those affected by the nuclear disaster, the Nikkei reported.

The utility has so far received 1.58 trillion yen from the fund for compensation payments related to the accident at its Fukushima Daiichi nuclear power plant, the Japanese daily said.

Based on the guidelines drawn up by a government panel on Friday, TEPCO and the fund will estimate the amount of additional compensation payments that will be made during the current fiscal year through March 31, the daily said.

About 120 billion yen will be needed to cover compensation for psychological harm to the 20,000 or so people evacuated from areas with the highest radiation levels.

TEPCO is to repay the fund via profits reaped from cost cuts and other measures, the business daily reported.

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