Thursday, May 31, 2007

E.ON Shares Jump After German Utility Announces EU7 Billion Share Buyback

(Bloomberg) -- E.ON AG, Germany's biggest utility,
plans to build 18 new power plants in Europe as part of a 60
billion-euro ($81 billion) investment plan to satisfy growing
demand for electricity.

The new generators will increase capacity in five years by
13,500 megawatts, enough to supply about 27 million average
European homes, as the region's markets open to competition,
E.ON Chief Executive Officer Wulf Bernotat said today at a press
conference in Dusseldorf, where the company is based.


Read more at Bloomberg Stocks News

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