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Japan’s TEPCO to pay $1B to nuclear plant evacuees

The owner of Japan’s tsunami-damaged nuclear plant will pay an estimated $1 billion (88 billion yen) to thousands of residents who evacuated homes near the radiation-leaking plant and don’t yet know when they can return.

Compensation Tokyo Electric Power Co. ultimately may pay for the world’s second-worst nuclear disaster is expected to be trillions of yen.

Japan’s Cabinet last week approved a bill to help TEPCO meet the massive costs, and parliamentary approval is pending. It would establish a fund from public money and contributions from utilities and special government bonds.

Read the rest of the story: Japan utility paying $1B to nuclear plant evacuees.