(New York Times) Japan is set to nationalize Tokyo Electric Power, the operator of the ravaged Fukushima Daiichi nuclear power plant, under a ¥1 trillion bailout plan approved Wednesday.

The Japanese government has been scrambling to keep the company from collapsing so it can meet the billions of dollars in compensation claims and decommission the meltdown-stricken reactors at Fukushima Daiichi, all while continuing to provide the Tokyo metropolis with stable electricity.

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