Reuters: Regulatory News: UPDATE 1-Tepco to pay for houses in contaminated areas-Nikkei

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UPDATE 1-Tepco to pay for houses in contaminated areas-Nikkei Apr 23rd 2012, 17:41 April 24 | Mon Apr 23, 2012 1:41pm EDT April 24 (Reuters) - Tokyo Electric Power Co said it will fully compensate residents in areas contaminated by radiation from its wrecked Fukushima nuclear plant if they are unable to return home after five years, Japan's Nikkei business daily said. The electric utility's Fukushima plant was wrecked by an earthquake and tsunami last March, triggering the world's worst nuclear crisis in 25 years. The government's compensation guidelines say the company should pay the full pre-accident value for real estate in the most heavily contaminated area, which is expected to remain uninhabitable for at least five years. But it has not set a policy for the other areas, the business daily said. The company, known as Tepco, has decided to apply the same rule for the other areas also, the newspaper said. The government is in the process of reclassifying evacuation zones in Fukushima Prefecture into three categories, based on the levels of contamination, the daily said. Tepco announced its plan at a nuclear compensation council meeting of government and company officials, the paper said. The company has paid 762.1 billion yen ($9.40 billion) in compensation as of Thursday, the Nikkei said.

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