THE CREATION of a hydro electricity joint venture by German electricity giant E.ON and Austrian electricity producer Verbund has been approved by the European Commission; European Hydro Power will produce electricity for its parents, which will continue to sell the power separately to their customers in Germany and Austria. Its electricity will be sold to its owners in proportion the their shareholdings. Brussels cleared the deal acting as the European Union's international competition authority. After an investigation, it concluded that the ...

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