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The Tokyo Electric Power Company, owners of the earthquake-crippled Fukushima Daiichi nuclear power station, will provide $12,000 in compensation for each household forced to evacuate from their homes or stay indoors due to radioactive contamination. Currently, there are roughly 78,000 people who have been evacuated from the 20 kilometer radius surrounding Fukushima since the March 11 quake hit, and 50,000 families will reportedly receive the TEPCO funds, which total $600 million dollars for this round of compensation.

If the $12,000 figure appears low, well, TEPCO is addressing that. "We want to carry out payments quickly and fairly," TEPCO's president was quoted saying by The Financial Times (which has the best take on the development). The company has described the payment amount as "provisional" and indicated the that the compensation "may rise later." TEPCO also left out of this particular compensation package small businesses, farms and others who've had their livelihood altered after high radiation levels were reported in the area surrounding the plant.

As of now there isn't a timetable for when the situation at the facility will be stabilized. Fukushima is currently classified as a level 7 accident on the International Nuclear and Radiological Event Scale, meaning that's its considered on par with Chernobyl as the most serious nuclear crisis.

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