Utilities upbeat about European demand

European utilities are sticking to their profit forecasts for this year.

Germany’s E.ON, which is the world’s largest utility in terms of sales, said that its earnings expectations were actually conservative.

It sees signs the sector’s profits are recovering from an unprecedented slump in demand.

France’s EDF and Czech competitor CEZ were not quite as optimistic but did confirm their 2010 earnings forecasts.

The economic crisis dampened power demand in Europe taking it to levels not seen for a decade.

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