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FINWIRES

TEPCO Secures Fresh Funding Support From NDF for Compensation Payments

-- Tokyo Electric Power (TYO:9501) (TEPCO) said it received 4.7 billion yen in grants from the Nuclear Damage Compensation and Decommissioning Facilitation Corporation under a revised business plan approved in March, according to a Wednesday filing on the Tokyo Stock Exchange.

The funding follows the company's latest request as compensation payments linked to the nuclear accident were set to exceed previously secured amounts by the end of May.

TEPCO has received a cumulative 188.9 billion yen in indemnity payments and 11.5 trillion yen in grants from the NDF to date. The utility said the additional support will be used to continue compensation payouts to those affected by the disaster.

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