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German Cartel Office may face legal complaint over RWE settlement - report


Published : Sun, 14 Oct 2007 20:53
By : Agencies
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FRANKFURT (Thomson Financial) - Germany's Federal Cartel Office may be facing a legal complaint, from industrial energy association VIK, against its recent agreement with RWE AG over how to pass on costs of carbon dioxide certificates to customers, Der Spiegel magazine reported, without saying where it got the information.

RWE last month agreed to auction electricity volumes of 6,300 MW to industrial clients over the next four years to end a dispute with the regulator over how to pass on the carbon dioxide certificate costs.

Now VIK is mulling filing a complaint with a Higher Regional Court in Duesseldorf, Germany, the magazine said in an excerpt of an article to be published tomorrow.

The auctioning process is not an adequate compensation for RWE's excessive electricity prices, the magazine said, citing VIK.

maria.sheahan@thomson.com

mas/hjp

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Copyright Thomson Financial News Limited 2007. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

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