Bloomberg: EON Raises Profit Forecast After Gazprom Gas Price Deal

EON AG, Germany’s largest utility, raised its profit forecast after reaching an agreement on natural-gas prices with OAO Gazprom (GAZP), Russia’s export monopoly.

“The basic structure of the long-term contract hasn’t changed,” said Christian Drepper, an EON spokesman. “Elements with an oil linkage are still in the contract but with a significantly reduced risk.”   MORE