Fukushima operator to cut costs, investments

A worker, wearing a protective suit and a mask, looks up at welding storage tanks for radioactive water, under construction in the J1 area at the Tokyo Electric Power Co's (TEPCO) tsunami-crippled Fukushima Daiichi nuclear power plant in Fukushima prefecture March 10, 2014, a day before the third anniversary of the March 11, 2011 earthquake and tsunami. REUTERS/Toru Hanai

TOKYO (Reuters) - Tokyo Electric Power Co (Tepco), the operator of the crippled Fukushima nuclear power plant, said on Monday it plans to cut 576.1 billion yen (£3.36 billion) of costs over a one-year period and 1.3 trillion yen over three years.

The cuts are more than the reductions Tepco would have made before the meltdowns at the Fukushima plant north of Tokyo three years ago, the utility said in a statement.