E.ON

After a weak start to the week, the Dax risks falling further. Eon is relying on a comprehensive savings and management program that could act as a short-term driver for the share price, but the stock moved lower in pre-market trading along with the market. Analysts see cost cuts as a chance for a positive reaction; no concrete details on the scope of the program were provided. » Mere på manager-magazin.de

The Higher Regional Court (Oberlandesgericht) Hamm ruled that Eon’s price formulas in Hamburg, Erkrath and Schwalbach are invalid because percentage-based price increases were passed on even though procurement prices had only risen by fixed amounts. A general declaration of invalidity for all supply areas was rejected. Consumer protection organizations plan to appeal to the Federal Court of Justice and view the ruling as an important milestone; customers must for now sue individually to claim refunds. Eon is examining legal remedies and welcomes the federal government’s announcements to create clarity for district-heating customers and operators. » Mere på sueddeutsche.de

The Oberlandesgericht Hamm has declared price-increase clauses used by E.ON Energy Solutions in Hamburg, Erkrath and Schwalbach invalid because the price hikes were passed on to customers disproportionately. Customers may be entitled to refunds but must assert them individually in court. The Verbraucherzentrale Bundesverband plans to take the case to the Bundesgerichtshof; E.ON is reviewing possible legal remedies. » Mere på finanzen.net