Japan's trade ministry has almost doubled the estimated cost of compensation for the 2011 Fukushima nuclear disaster and decommissioning of the damaged Fukushima-Daiichi nuclear plant to more than 20 trillion yen ($177.51 billion), according to the Nikkei business daily. Ryan Brooks reports.
Five years on, the financial fallout from Japan's nuclear crisis continues to snowball... Local media on sunday reporting that officials have nearly doubled the estimated cost of cleaning up the crippled Fukushima Daichi nuclear plant.. Their latest guess: nearly 180 billion dollars. The Nikkei newspaper says the swelling cost points to a growing number of people who are due compensation - as the extent of the disaster becomes clear... The cost of decontaminating in the soil and water around Fukushima is also rising. Estimates jumping up by several billion. For the Japanese public it means pricier power... as electric companies raise rates to urgently scrape funds together. The Fukushima earthquake was the strongest ever recorded in Japan- - and set off the worst nuclear crisis since Chernobyl... Fully decomissioning the site is expected to take 30 to 40 years.