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Vattenfall loses reduced charges case

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Vattenfall loses reduced charges case
11:59 CEST+02:00
Energy giant Vattenfall has been ordered to pay €50 million to its competitors and reduce its network charges, after losing a court battle with German regulators on Thursday.

Customers both private and corporate should now see their power bills reduced. Vattenfall Europe Transmission GmbH had resisted the Federal Network Agency's reduction of network charges by 18 percent, which took place in June 2006.

Regulation authorities had intended to increase competition within the energy market with the move, opening it up to new suppliers who had been complaining that they were being discriminated against.

The agency had also ordered Vattenfall to reduce its bills to cancel out its increased profits from the excessive network charges gained between November 2005 and June 2006.

The Düsseldorf high court had decided against Vattenfall over the network charges, but in its favour over compensation for the profit, leading to both parties to appeal to Germany's Federal Supreme Court of Justice.

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