Reply #13: Tepco to accept aid with strings attached

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http://search.japantimes.co.jp/cgi-bin/nn20110512a1.html

Tokyo Electric Power Co. decided Wednesday to accept the government's conditions for helping it compensate victims of the Fukushima No. 1 power plant crisis.

Tepco is expected to face trillions of yen in compensation demands.

The government's conditions for aid include maximum cost-cutting efforts, not capping compensation payments in advance and allowing an investigation into its management to be conducted by a third-party panel set up by the government.

The government presented the conditions Tuesday evening after Tepco President Masataka Shimizu asked for help in making the enormous compensation payments for the radiation-related problems triggered by the March 11 mega-quake and tsunami earlier in the day.

To raise the funds, Tepco is planning to sell more than ¥500 billion worth of assets, sources said.