German utility Vattenfall Europe AG Friday said it doesn't plan to raise retail power prices at the beginning of 2009 despite increased power generation costs.
However, Chief Executive Tuomo Hatakka in a written statement said the company would review this decision in the course of 2009 and may decide to raise electricity prices for private households and commercial and industrial customers later that year.
Competitors E.ON AG (EOAN.XE) and RWE AG (RWE.XE) earlier this week announced power price increases for the beginning of 2009.
Vattenfall Europe, a unit of Swedish state-controlled Vattenfall Group, last raised German retail power prices in mid-2007 and as a result lost thousands of customers.
In January, the company slightly lowered power prices following regulation-related reduction in grid fees.