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Business

Eon Freezes Energy Prices

German energy concern Eon has offered to postpone its recently announced price hikes, according to the Financial Times Deutschland. As a counter-measure, the government intends to speed up the approval process for the building of a new power plant, insiders said. Eon's head, Wulf Bernotat, has said he wants energy prices to be frozen at least until the new Energy Regulation Board takes up its work in the spring of 2005, the Handelsblatt reported. The FTD said that the price moratorium would only affect fees for the use of power lines. The energy prices for households and businesses would be permitted to rise. Eon's suggestions will likely be discussed at an upcoming energy summit, a date for which has not been set.

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