THE ERA OF CHEAP ENERGY IS PAST

THE ERA OF CHEAP IS PAST, THE CHIEF OF
GERMAN ENERGY GIANT E.ON AG TOLD THE GROUP'S ANNUAL MEETING THURSDAY, ACCORDING TO DPA.
WULF BERNOTAT TOLD SHAREHOLDERS ATTENDING THE GROUP'S ANNUAL
GENERAL MEETING IN ESSEN THAT THE GLOBAL DEMAND FOR ENERGY DEMAND WAS
INCREASING DRAMATICALLY AS NATIONS SUCH AS CHINA AND INDIA MOVED TO
CATCH UP WITH WESTERN ECONOMIES.
"THE ERA OF CHEAP ENERGY IS OVER," BERNOTAT SAID.
BERNOTAT TOLD SHAREHOLDERS THAT FUTURE ENERGY PRICES WERE
DEPENDENT ON NEW GAS SOURCES BEING DISCOVERED AND POWER STATIONS IN
EUROPE BEING OPENED.
AN INCREASE IN SUPPLY COULD HELP TO EASE THE PRESSURE ON PRICES,
HE SAID.