EON Raises Profit Forecast on Gazprom Natural-Gas Price Deal
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EON AG, Germany’s largest utility, raised its profit forecast after reaching an agreement on natural-gas prices with OAO Gazprom, Russia’s export monopoly.
The deal will be backdated to the fourth quarter of 2010 and add about 1 billion euros ($1.25 billion) to EON’s half-year results, the utility said today in a statement.