Utility Energie Baden-Wuerttemberg AG (EBK.XE) said Tuesday it has reached an agreement with workers over higher wages in the southern German state of Baden Wuerttemberg.
The German company said it has agreed to lift wages by 4.35% or at least EUR90 a month. The agreement is valid from Mar. 1 and will expire Mar. 31, 2009.
Additionally, the agreement foresees that EnBW will pay its workers a one-time bonus of EUR120 in Sept. 2008, the company said.
The agreement comes a day after Germany's most powerful services union Ver.di organized workers' walkouts at three of EnBW's major hard-coal fired and several minor plants, prompting outages.
Ver.di had demanded at least 8.8% more money for workers at EnBW and other utilities in the Baden-Wuerttemberg region.